A Market:
A. Exhibits up sloping demand and down sloping supply curves
B. Entails the exchange of goods but not services
C. Is and institution of mechanism that brings together buyers and sellers
D. Always requires face-to-face contact between buyer and seller
Answer: C. Is and institution of mechanism that brings together buyers and sellers
You might also like to view...
Which of the following cities contains a Federal Reserve bank?
A) Pittsburgh B) Los Angeles C) Seattle D) Dallas
What is the multiplier effect?
What will be an ideal response?
In actual practice, does the Fed monetize the debt?
a. No, it did not do so even with large deficits in the 1980s and early 2000s. b. No longer, although it monetized much of the deficit in the 1980s. c. Yes, although it monetizes less now than in the 1980s. d. Yes, it has monetized the deficit steadily since the early 1970s.
A two-way network that links users and in which the per-unit value of the service increases as the size of the network increases is a:
A. negative externality known as a direct network externality. B. positive externality known as a direct network externality. C. negative externality known as an indirect network externality. D. positive externality known as an indirect network externality.