In general, the purpose of markets is to facilitate the exchange of goods and services between buyers and sellers
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose the nominal exchange rate rises from 82 to 90. The domestic currency has appreciated by ________ percent
A) ten B) nine C) eight D) 86
U.S. patent laws establish property rights for inventors of new products
a. forever b. until a superior invention comes along c. for 3 years d. for 10 years e. for 20 years
TSA could sign up some _____________ people willing to pay for less hassle at airport security -- if they don't have to make an appointment to have fingerprints and IDs scanned
Fill in the blank(s) with the appropriate word(s).
The price of iPhones has fallen dramatically. Which of the following is likely to happen?
A. The quantity of iPhones supplied will decrease. B. The quantity of iPhones supplied will increase. C. The supply of iPhones will decrease. D. The supply of iPhones will increase.