Negotiations between the buyer and seller of a new house are an example of:
A. producer?producer rivalry.
B. monopoly.
C. consumer?producer rivalry.
D. consumer?consumer rivalry.
Answer: C
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During the past 100 years, the United States has transformed into primarily
A. A service economy. B. An agricultural economy. C. A closed economy with little foreign trade. D. A manufacturing economy.
In a closed economy, public saving plus private saving is equal to
A) investment. B) taxes minus transfers. C) the budget surplus. D) the budget deficit.
A citizen of the U.S. buys a factory in London. This is an example of a(n) ________
A) foreign portfolio investment B) export by the U.S. C) foreign direct investment D) import by the U.S.
Government is a social institution
A) in which people do not engage in competition. B) in which the public interest, rather than private interests, guide individual behavior. C) whose behavior is determined by individuals' perceptions of marginal costs and marginal benefits. D) whose detailed actions are governed by the will of the majority.