Which of the following is true?
a. Economists assume that there are no private property rights in a free market
b. A free market is also known as a fettered market.
c. A voluntary transaction means that all parties to the transaction must expect to benefit.
d. People always receive goods and services at a discounted price in a free market.
e. An economic growth is represented by an inward shift of the production possibility curve.
c
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The government increases taxes. As a result, in the short run, real GDP ________ and the price level ________
A) increases; rises B) decreases; falls C) decreases; rises D) increases; falls
A financial market in which previously issued securities can be resold is called a ________ market
A) primary B) secondary C) tertiary D) used securities
The investors who bought mortgage-backed securities just before the housing bubble burst:
A. were not concerned about the original mortgage. B. were all very comfortable assuming high-risk assets. C. were not confident in the rising home value underlying each mortgage. D. knew exactly what they were buying.
In the graph, when disposable income is 3000, consumption
A. Is 2000.
B. Is 2500.
C. Is 3000.
D. Is 3500.