A demand schedule is a:
A. table which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
B. graph which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
C. table which shows the quantities of a particular good or service that consumers are willing to purchase at various income levels.
D. line which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
A. table which shows the quantities of a particular good or service that consumers are willing to purchase at various prices.
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Suppose the MPC is 0.8 in Canada and the MPC h is 0.55. If income increases by $100 million in Canada, then the increase in consumption of foreign goods will be:
a. $35 million. b. $25 million. c. $80 million. d. $100 million.
Aggregate supply changes much faster than aggregate demand
Indicate whether the statement is true or false