Most markets in the economy are
a. markets in which sellers, rather than buyers, control the price of the product.
b. markets in which buyers, rather than sellers, control the price of the product.
c. perfectly competitive.
d. highly competitive.
d
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When potential GDP increases,
A) there is a movement down along the AS curve. B) there is a movement up along the AS curve. C) there is neither a movement along nor a shift in the AS curve. D) the AS curve shifts leftward. E) the AS curve shifts rightward.
An increase in government spending would cause which of the following to happen?
A) The aggregate demand curve would shift to the right. B) The aggregate demand curve would shift to the left. C) The aggregate supply curve would shift to the right. D) The aggregate supply curve would shift to the left.
A movement along a consumption function is caused by a change in
a. households' real assets b. interest rates c. taxation policy d. expectations of price changes e. households' incomes
In a market economy, what determines whether an entrepreneur will continue in business or terminate the production of a new product
What will be an ideal response?