Quantity Demanded Is a Flow Variable, Which Means That It

question 8

Multiple Choice

Quantity demanded is a flow variable, which means that it must be expressed

• A)in units of the good per week.
• B)in units of the good per year.
• C)as number of units per period of time.
• D)in units of the good per day.
• E)as so much at a specific moment in time.

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Definitions:

Pascal's Triangle

A triangular array of numbers where each number is the sum of the two numbers directly above it, often used in probability theory and algebra.

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To expand an algebraic expression means to simplify the expression by distributing multiplication over addition or subtraction and combining like terms.

Binomial Theorem

A principle in algebra that describes the algebraic expansion of powers of a binomial.

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To express a mathematical expression in an extended form by removing parentheses or factoring, usually by applying the distributive property.