Maximizing surplus in a market depends not only on the amount bought and sold, but also on:
A. how productive the sellers are.
B. who buys and sells it.
C. what those consumers do with it.
D. None of these statements is true.
Answer: B
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When describing the IMF broad country classification, the most accurate statement is that
A) most of the nations in Western Europe are considered emerging market economies. B) the emerging market economies are countries that were, until the early 1990s, part of the Soviet Union or its satellites. C) about 50 percent of the world's population live in the advanced economies and the other 50 percent live in the emerging market and developing economies. D) most of the world's population lives in advanced economies. E) the category with the greatest number of countries is the advanced economies.
In Brinley Thomas' (1954) theory of the Atlantic Economy,
(a) cotton exports to Europe drove the growth of the U.S. economy. (b) people and capital moved to the U.S. when U.S. economic growth was strong. (c) the peaks of the U.S. business cycle were closely aligned with that of European peaks. (d) all of the above are true.
The market and public sector are similar in that
A) there is competition among the participants in both sectors. B) the resources used in both sectors are scarce. C) the participants in both sectors react to incentives. D) All of the above are true.
Mexican imports of U.S. goods:
A. create a supply of pesos. B. create a supply of dollars. C. reduce the demand for dollars. D. have no effect on the peso-dollar exchange rate.