The Quantity That Customers Will Purchase at the Going Price

question 77

Multiple Choice

The quantity that customers will purchase at the going price is called the

• A) economic demand.
• B) market demand.
• C) capacity.
• D) consumer need.
• E) inventory.

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Definitions:

Inflation

The rate of growth in the average price of goods and services, which leads to a decline in the power of currency to buy goods.

Money-Supply Curve

A graphical representation showing the relationship between the quantity of money in the economy and the price level or interest rate.

Federal Reserve

The central banking system of the United States, responsible for setting monetary policy, regulating banks, maintaining financial stability, and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.