A demand curve for The Steel Porcupines' concert tickets would show the:
A. number of tickets the box office is willing to sell at various prices.
B. number of people who need tickets.
C. quality of people who want to buy these concert tickets.
D. number of tickets that will be purchased at various prices.
Answer: D
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Think of the interest rate as the "price" of a home loan. Other things constant, if people expect interest rates to rise significantly over the next couple months, their willingness to purchase a home financed by a mortgage today will tend to
A) rise. B) fall. C) remain unchanged. D) do any of the above because home purchase decisions are independent of interest rates on mortgages.
If the price level is falling, the economy is experiencing
a. creeping inflation b. stagflation c. disinflation d. inflation e. deflation