The term market always refers to
a. an arrangement in which buyers and sellers meet at a specific time and place.
b. an arrangement in which an auctioneer plays at least a limited role in setting prices.
c. a group of buyers and sellers of a particular good or service.
d. a single buyer and seller of a particular good or service.
C
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The balance of payments is zero
A) as an accounting identity. B) because market forces ensure that this is so. C) only if the current account balance is zero. D) only if the capital account balance is zero.
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
How does a wheat farmer's contribution to national output get counted in the gross domestic product if the Bureau of Economic Analysis measures only the value of final goods, such as loaves of bread?
What will be an ideal response?
What happens to the AD curve when the value of household assets increases?
What will be an ideal response?