In economics, the demand for a good refers to the amount of the good people:
a. would like to have if the good were free.
b. will buy at various prices.
c. need to achieve a minimum standard of living.
d. will buy at alternative income levels.
Question 2
Which of the following will cause consumption, and as a result, aggregate demand, to shift to the right?
a. an optimistic business forecast of future income growth
b. increased consumer wealth
c. an increase in consumer confidence
d. all of the above
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economics