We say a market is "missing" when:
A. there is an absence of a well-functioning market, and total surplus is lower than it could be.
B. there is no place for potential buyers and sellers to exchange a particular good or service.
C. the quantity being exchanged is at or close to zero.
D. All of these are true.
Answer: D
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The U.S. interest rate has ________ on the supply of dollars and has ________ on the demand for dollars
A) an effect; an effect B) no effect; no effect C) an effect sometimes; an effect sometimes D) no effect; an effect E) an effect; no effect
If expectations are adaptive, how will the economy adjust to a new long-run equilibrium in response to contractionary monetary policy? Support your answer with a graph of the Phillips curve
What will be an ideal response?
The simple circular flow diagram is a ______.
a. spreadsheet of government expenditures b. road map to successful employment c. visual model of the economy d. reference of stock market fluctuations
The following countries as a group represent the most important markets for U.S. agricultural exports:
A) Developing countries B) Developed countries C) Centrally planned countries D) Former Soviet Union members