Problem
1. Explain the difference between a change in (a) demand and (b) quantity demanded.
2. In an effort to control rising prices during the 1970s, many governments fixed prices (and wages) for extended periods of time. Discuss the economic repercussions of fixed prices.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.