Markets will always create more efficient outcomes without government intervention
a. True
b. False
Indicate whether the statement is true or false
False
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The equilibrium rate of interest in the market for money is determined by the intersection of the
A. supply-of-money curve and the asset-demand-for-money curve. B. supply-of-money curve and the total-demand-for-money curve. C. investment-demand curve and the total-demand-for-money curve. D. supply-of-money curve and the transactions-demand-for-money curve.
Suppose a consumer has determined that her reservation price, R, is $75. The expected benefit of an additional search at this reservation price is $25. Based on this information we can conclude that:
A. this consumer will accept any price below $75. B. search costs are $25 per search. C. search costs are $25 per search, and this consumer will accept any price below $75. D. this consumer will reject any price above $25.
The World Trade Organization is designed to do the following except:
A. enforce trade agreements between nations. B. monitor trade agreements. C. ensure that trade doesn't adversely affect the environment. D. promote free trade internationally.
Scarcity results when available resources cannot satisfy all desired uses of those resources.
Answer the following statement true (T) or false (F)