Explain how a market helps determine which goods and services will be produced, how to produce them, and who gets them
What will be an ideal response?
A market promotes interaction between consumers and firms. This interaction will result in prices that influence the decisions of consumers and firms.
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Refer to Figure 10.9. Other things equal, a decrease in the nominal money supply by the Fed is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
If the interest rate is 11%, $1500 received at the end of 12 years is worth how much today?
a. 1500(1+0.11)^12 b. 1500/(1 +0 .11)^12 c. 1500/(1 + 11)^12 d. 1500
If a tax is levied on the sellers of a product, then the supply curve will
A. shift up. B. become flatter. C. shift down. D. not shift.
Look at the following data: The frictional unemployment rate is 1.5 percent, the natural unemployment rate is 4.5 percent, and the cyclical unemployment rate is -1 percent. The structural unemployment rate is _________ percent and the actual unemployment rate (in this economy) is ___________ percent
A) 6; 3.5 B) 3; 5.5 C) 3; 3.5 D) 6; 5.5