It is purely by chance that what producers intend to produce for consumption will equal what consumers intend to consume
Indicate whether the statement is true or false
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In a competitive market, which of the following is a defining characteristic?
A. The firm sets its own prices. B. The firm takes prices set by the government. C. The firm can easily enter the market but not exit the market. D. The firm is just one of many firms within that market.
The condition that states that the domestic interest rate equals the foreign interest rate minus the expected appreciation of the domestic currency is called
A) the purchasing power parity condition. B) the interest parity condition. C) money neutrality. D) the theory of foreign capital mobility.
A coalition of firms who agree to restrict output for the purpose of earning an economic profit is called a(n):
A. pure monopoly. B. duopoly. C. cartel. D. oligopoly.
Suppose that a country with a closed economy opens itself to international trade and becomes a net exporter. In that case, domestic suppliers will supply ________ of that good after it opens itself to international trade.
A. less B. same amount C. none D. more