Another term for equilibrium price is
a. dynamic price.
b. market-clearing price.
c. quantity-defining price.
d. balance price.
b
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The signals in markets are determined
A) by supply and demand. B) for all goods by the government through the use of price controls. C) in an unfair manner that ends up hurting the poor. D) by nonprice rationing devices.
Someone who values a lottery at less than the expected value is
a. a risk lover b. risk neutral c. risk averse d. one who tends to play lots of lotteries
Which of the following would not shift the supply curve for mp3 players?
a. an increase in the price of mp3 players b. a decrease in the number of sellers of mp3 players c. an increase in the price of plastic, an input into the production of mp3 players d. an improvement in the technology used to produce mp3 players
American productivity growth was highest in the decade of the
A. 1960's. B. 1970's. C. 1980's. D. 1990's.