The nonmarket transactions refer to:
A. market power.
B. short term contracts.
C. vertical integration.
D. purchases made in the spot market.
Answer: C
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A system for studying strategic behavior in economics is called
a. decision science. b. political economy. c. game theory. d. solution concepts.
The key interest rate in the Eurocurrency market is the
A) London interbank offer rate. B) Eurobank spread rate. C) Prime rate. D) C.D. rate.
According to the shutdown rule, a firm should produce no output in the short run if
A) price is below minimum average total cost. B) price is above minimum average total cost. C) total revenues are lower than total fixed costs. D) price is below minimum average variable costs.
The greater the marginal propensity to consume (MPC) in the economy, the greater the spending multiplier
a. True b. False Indicate whether the statement is true or false