When the term "price" is used in the law of demand, price refers to
A) the dollar price of the good.
B) the price of the good relative to the price of another good.
C) the absolute price of the good.
D) the nominal price of the good relative to its nominal price in the previous year.

Question

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The Answer of When the term "price" is used in the law of demand, price refers to
A) the dollar price of the good.
B) the price of the good relative to the price of another good.
C) the absolute price of the good.
D) the nominal price of the good relative to its nominal price in the previous year.

When the Term "Price" Is Used in the Law of Demand