When economists talk about a demand schedule for a product, they mean
A. the amount of a good that consumers intend to purchase at only one particular price in a given period of time.
B. the amount of a good that consumers are able to purchase (though they might not be willing to) at different prices in a given period of time.
C. the amount of a good that producers are willing to make available for sale at a particular price in a given time period.
D. the amount of a good that consumers intend to purchase at each price in a set of possible prices in a given time period.
Answer: D
You might also like to view...
If the inflation rate is zero, the nominal interest rate is
A) greater than the real interest rate. B) positive and the real interest rate is negative. C) equal to the real interest rate. D) less than the real interest rate. E) equal to the inflation rate.
The difference between a tariff and a quota is that the revenue from the tariff goes to the
A) domestic consumer. B) domestic producer. C) domestic government. D) foreign producers. E) foreign government.