The concept of demand is best described as:
a. the total satisfaction that consuming a good provides people at different prices.

b. the quantity of a good or a service that people will offer for sale at different possible prices.

c. the additional satisfaction derived from a quantity of goods and services obtained when income increases.

d. the quantity of a good or a service that people are willing and able to purchase at different possible prices.

e. the quantity of a good or service that consumers will substitute when the price of a good changes.

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.