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Explain the difference between a change in quantity demanded and a change in demand.
Change in quantity demanded" refers to movement with the demand curve. For instance, if the price of apples rises, all other things being equal, and people will buy fewer apples; thus, the quantity demanded will reduces. A "change in demand" refers to a situation in which the whole demand curve shifts. For example, if a large number of new people move into your neighbourhood, there will be a larger pool of people interested in buying apples at the local grocery store.
There are two individuals in town, one is high risk and the other is low risk.1 The probabilities of having an accident for the low risk individual and high risk individual are p
The efficiency loss of a tax is the tax revenue collected by government minus the value of the public goods financed through the tax. Why is this false?
If the Bank of England wanted to discourage investment spending and reduce aggregate demand, it could?
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veblen effect
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