At a price of $9.99, Danielle buys 3 digital books per month. When the price decreases to $7.99, Danielle buys 4 digital books per month. Jason says that Danielle's demand for digital books has increased. Is Jason correct?
A) Yes, Jason is correct.
B) No, Jason is incorrect. Danielle's demand has decreased.
C) No, Jason is incorrect. Danielle's quantity demanded has decreased, but her demand has stayed the same.
D) No, Jason is incorrect. Danielle's quantity demanded has increased, but her demand has stayed the same.
E) No, Jason is incorrect. Danielle's quantity demanded has increased and her demand has decreased.
D
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According to the classical economists, an economy producing $15 trillion in goods and services
A) may be producing too much since the needs of people may not be this great. B) could experience a permanent glut if no one has estimated the demand for goods and services in the economy. C) simultaneously generates the income necessary to purchase $15 trillion in goods and services. D) is supplying $15 trillion in goods and services, but could be demanding more or less than $15 trillion in goods and services for a very long period of time.
What is a positive statement? Give an example
What will be an ideal response?