________: system whereby currency values are determined by market supply and demand conditions, with minimal government intervention
Fill in the blank(s) with correct word
Floating: exchange rates
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Jim is haggling with a car dealer over the sale price of a used car. When he entered the store, it was empty. During the negotiations, a second customers walks in, interested in that particular car, and the storekeeper rejects Jim's offer. This is because
a. The car dealer's disagreement value decreased b. The car dealer's disagreement value increased c. The car dealer's disagreement value did not change d. None of the above
If voters are rational, they are more likely to vote
A. if the issues are complex. B. when they are employed. C. in small local elections. D. in large national elections.
The short-run supply curve for a perfectly competitive firm is
A) the industry supply curve. B) its rising portion of the average-variable-cost curve. C) its entire marginal-cost curve. D) its marginal-cost curve above the average-variable-cost curve. E) its average-revenue curve.
A perfectly competitive firm:
A) can sell as much output as it wants at the equilibrium price. B) must lower its price to sell more output. C) can select the price for its output. D) is a price maker.