Examlex
What are the arguments for and against an independent Fed?
Law of Demand
States that, all other factors being equal, as the price of a good increases, demand for that good decreases, and vice versa.
Quantity Demanded
The amount of a good or service that consumers are willing and able to purchase at a specific price.
Price
The amount of money required to purchase a good or service, determined by factors such as supply and demand.
Normal Good
A type of good for which demand increases when income increases, demonstrating a direct relationship between income and demand.
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