Buying electricity off the freewheeling grid at one quarter 'til the hour for delivery on the hour illustrates:
a. relational contracts with distributors
b. vertical requirements contracts
c. spot market transactions
d. variable price agreements
c
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If velocity is equal to 6, and the quantity of money is $50 billion, according to the equation of exchange, nominal GDP is equal to
A) $300 billion. B) $150 billion. C) $18 billion. D) $8.3 billion. E) $56 billion.
Refer to Table 18-2. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Mexican peso and U.S. dollars per British pound respectively?
A) 0.10 dollars per peso and 5.00 dollars per pound B) 0.01 dollars per peso and 0.50 dollars per pound C) 0.01 dollars per peso and 0.20 dollars per pound D) 0.10 dollars per peso and 2.00 dollars per pound E) 1.00 dollars per peso and 20.00 dollars per pound
Households ________ final goods and services in the ________ market
A) purchase; product B) purchase; factor C) sell; factor D) sell; product
What is the market fundamentals price and how might it differ from the equilibrium price?
What will be an ideal response?