The price system has
A. prices fixed by the government.
B. prices fixed by the seller.
C. prices fixed by the producer.
D. voluntary exchange.
Answer: D
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The figure above shows the market supply and market demand for pizza
a) What is the efficient quantity of pizzas? b) If 70,000 pizzas are produced, what area represents the deadweight loss? c) Why does the deadweight loss in part (b) occur? d) If 20,000 pizzas are produced, what area represents the deadweight loss? e) Why does the deadweight loss in part (d) occur?
Describe the political marketplace. Who are the participants, what do they do, and what is a political equilibrium?
What will be an ideal response?
Most countries tend to follow only one price index to measure the price level in an economy because all prices rise or fall at the same time or by the same amount
a. True b. False Indicate whether the statement is true or false
Which of the following factors influence the position of the long-run aggregate supply curve?
A. the supply of money B. government spending C. taxes D. the level of full-employment output