When the term "price" is used in the law of demand,price means
A) the price of the good relative to the price of another good or to the average price of all other goods.
B) the nominal price of the good relative to its nominal price in the previous year.
C) the absolute price of the good.
D) the dollar price of the good.
Correct Answer:
Verified
Q2: The law of demand states that,other things
Q3: The law of demand states that,ceteris paribus,
A)a
Q4: The price of a movie increased from
Q5: Bill quits his job to pursue an
Q6: The relative price of a good is
Q7: Which of the following is most likely
Q8: In determining the demand for a good,economists
A)hold
Q9: In economics,the term "demand" refers to
A)the quantity
Q10: If other factors remain constant,the Canadian government's
Q11: The price of a new textbook was
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