Which of the following are ways to ration goods and services?
A) price
B) physical force
C) political power
D) All of the above are correct.
D
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Which of the following is true about market demand?
A. It is typically horizontal B. It is downward-sloping C. it is inconsistent with the law of demand D. It represents the quantity of a good people are willing, but not necessarily able to buy
Refer to the graph shown. If the seller expects a price of $52, the minimum amount the firm must produce to be profitable is:
A. 18. B. 16. C. 17. D. 15.
In a market system, the costs associated with exchanging goods are known as
A) voluntary costs. B) signaling costs. C) implicit costs. D) transaction costs.
If the European Central Bank increases interest rates
A) the demand curve for European euros shifts rightward and the supply curve of European euros shifts leftward. B) the demand curve for European euros shifts leftward and the supply curve of European euros shifts rightward. C) the demand curve for European euros and the demand curve for U.S. dollars both shift rightward. D) the demand curve for European euros shifts leftward and the demand curve for U.S. dollars shifts rightward.