The Means by Which Individuals Hold Their Claims on Real

question 30

Multiple Choice

The means by which individuals hold their claims on real assets in a well-developed economy are

• A)investment assets.
• B)depository assets.
• C)derivative assets.
• D)financial assets.

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded.

Elastic the Supply Curve

Describes a situation where the supply of a good or service changes significantly in response to changes in price.

Normal Good

A good for which demand increases as the income of consumers increase, holding other factors constant.

Inferior Good

A type of good for which demand decreases as the income of individuals increases, inverse to typical goods.