The market process is a
A) path to discovery.
B) simple process.
C) theoretical concept that reveals little useful information.
D) none of these choices.
A
You might also like to view...
Which of the following is TRUE regarding markets?
I) Economists define a market as a geographic location where trade occurs. II) A market enables buyers and sellers to get information about each other and to buy and sell from each other. III) Markets coordinate decisions through prices. A) I only B) I and III C) II and III D) I, II and III
Bank reserves will decrease if
A) Fed liabilities decrease. B) currency held by the public decreases. C) float decreases. D) Fed assets increase.
A surplus item is
A) the import of goods or services that is not needed by residents of a country. B) the import or export of products that are by-products of the manufacturing of export goods. C) any transaction that leads to a receipt by a resident of a country or its government. D) any transaction that leads to a payment by a resident of a country or its government.
What happens when U.S. and U.K. prices remain unchanged but the U.S. dollar appreciates by 2% against the British pound?
a. U.S. exports to the United Kingdom increase. b. U.S. net exports to the United Kingdom decrease. c. U.S. imports from the United Kingdom fall. d. U.S. net exports do not change because net exports are acyclical.