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:

Reconcile

The process of ensuring that two sets of records or accounts are in agreement.

APR

Annual Percentage Rate; the annual rate that is charged for borrowing, representing the actual yearly cost of funds over the term of a loan.

Compounded Weekly

Refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a weekly basis.

Deposit

Money placed into a financial institution for safekeeping or as a part of initiating a larger transaction.