Markets are
A) a mechanism through which prices of goods and services are determined by the forces of supply and demand.
B) specific geographic locations.
C) hypothetical constructs used to analyze how people form their tastes and preferences.
D) places where people can inspect goods and services carefully.
Answer: A
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A tariff is
A) a subsidy granted to importers of a vital input. B) a tax imposed by a government on goods imported into a country. C) a limit placed on the quantity of goods that can be imported into a country. D) a health and safety restriction imposed on an imported product.
How does the demand curve for an oligopoly firm differ from the demand curves for firms in competitive market structures?
What will be an ideal response?
__________ occurs because firms have an incentive to become riskier after their loans are funded
A) Moral hazard B) Adverse selection C) Manager-stockholder conflict D) Manager-lender conflict
By Gresham's law, commodity money will always drive out fiduciary money
a. True b. False Indicate whether the statement is true or false