Multiple Choice
What is the difference between a change in quantity demanded and a change in demand?
A) A change in demand is caused by a change in a good's own price, while a change in quantity demanded is caused by a change in some other variable, such as income, tastes, or expectations.
B) A change in quantity demanded is a change in the amount people actually buy, while a change in demand is a change in the amount they want to buy.
C) A change in demand is a change in the amount people actually buy, while a change in quantity demanded is a change in the amount they want to buy.
D) A change in quantity demanded is caused by a change in a good's own price, while a change in demand is caused by a change in some other variable, such as income, tastes, or expectations.
Correct Answer:
Verified
Correct Answer:
Verified
Q112: If the "nominal price" of a good
Q113: What does a supply curve illustrate a
Q114: Which of the following would reduce the
Q116: How is the market demand curve determined?<br>A)
Q117: According to the law of demand, what
Q118: The income effect explains why people tend
Q120: What two effects support the law of
Q122: What is the result of an increase
Q158: Define what a market is and provide
Q166: If hot dogs are inferior goods,the demand