With Reference to the Difference Between a Change in Demand

question 342

Multiple Choice

With reference to the difference between a change in demand and a change in quantity demanded, which of the following is TRUE?

• A) If a good's price goes down, then demand for the good will decrease.
• B) If a good's price goes down, then quantity demanded will increase.
• C) If demand increases, then the demand curve will shift to the left.
• D) If price rises and quantity demanded decreases, then the demand curve will shift to the left.

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Definitions:

Award of Damages

A monetary compensation granted to a party in a lawsuit for losses or injuries suffered because of another's party's actions or negligence.

Payment of Money

The transfer of currency or equivalent from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Property

Legally protected rights and interests in anything with an ascertainable value that is subject to ownership.

Stare Decisis

A legal principle requiring judges to respect the precedents set by previous court decisions.