Define the quantity demanded of a good or service
What will be an ideal response?
The quantity demanded of a good or service is the amount that consumers plan to buy during a given time period at a particular price.
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The M2 definition of the money supply is based on the concept that
a. M1 is a small number, and should be increased in size. b. many types of deposits can be used as both payments and stores of value. c. checking deposits are used for payments, and therefore, not part of M1. d. cash is not used for the majority of payments.
Which of the following will tend to occur when a surplus exists in a market?
A) supply will increase and demand will decrease until the surplus disappears. B) supply will decrease and demand will increase until the surplus disappears. C) the price will tend to rise over time. D) the price will tend to decrease over time.