Impersonal market forces synchronize the personal and independent decisions of many individual buyers and sellers to achieve equilibrium price and quantity
Indicate whether the statement is true or false
true
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Internationally, the TRIPS agreement is uniformly regarded as a positive step for world prosperity
Indicate whether the statement is true or false
Between 1800 and 1840, land laws became increasingly ___________ , primarily due to _____________
a. conservative; increases in the price per acre of available land b. conservative; legal limits on the sale of land to farmers c. liberal; the extension of long-term credit by the federal government to land buyers d. liberal; decreases in the minimum acreage required for purchase
Prior to the creation of the Fed, promissory notes that were issued by banks with a pledge to redeem them for gold, were known as
a. assets b. transactions notes c. precautionary notes d. FDIC vouchers e. bank notes
Whenever a perfectly competitive firm chooses to change its level of output, its marginal revenue
a. increases if MR < ATC and decreases if MR > ATC. b. does not change. c. increases. d. decreases.