Suppose the market for cement is one where there are a large number of buyers and sellers, and everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market?
A) The cement market is free and competitive.
B) The cement market is government regulated.
C) All participants in the cement market set their own prices.
D) All transactions in the cement market are likely to be involuntary.
A
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Which of the following is not a "pull" factor in urban migration?
a. higher urban incomes b. better urban job opportunities c. more modern way of life d. rural land consolidation e. all are pull factors f. none is a pull factor
The equilibrium in the market for loanable funds is:
A. at the interest rate set by the Fed. B. at the price at which the quantity supplied is slightly greater than quantity demanded. C. where the amount being borrowed and the amount being saved is the same. D. where the amount being saved is enough for banks to cover required reserves.
The United States is the world's leading grain-producing nation. Exporting grain causes the: a. domestic consumption of grain to rise because of the added foreign demand
b. price of grain in the domestic market to fall because foreigners are now taking some of the domestic demand. c. price of grain to domestic consumers to rise because of the added foreign demand. d. standard of living of foreigners to fall because of the lost purchasing power.
If the real exchange rate is 5/4 pounds of Chilean beef per pound of U.S. beef, a pound of U.S. beef costs $2 and the nominal exchange rate is 500 Chilean pesos per dollar, then Chilean beef costs
a. 1,250 pesos per pound. b. 800 pesos per pound c. 250 pesos per pound. d. None of the above is correct.