A market in which final goods and services are exchanged is a
A. Labor market.
B. Public goods market.
C. Factor market.
D. Product market.
Answer: D
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Which is not a key economic question?
a. What goods and services should be produced? b. How should these goods and services be produced? c. Who consumes these goods and services? d. How should these goods and services be paid for?
A newspaper headline reads: "Fed Raises Discount Rate for Third Time This Year." This headline indicates that the Federal Reserve is most likely trying to:
a. Stimulate the economy b. Increase the money supply c. Reduce the cost of credit d. Reduce inflationary pressures in the economy
Advertising can influence demand by altering tastes of consumers. This type of advertising is known as
A. strategic advertising. B. persuasive advertising. C. influential advertising. D. informative advertising.
All of the following are examples of intermediate goods, except:
A. Flour bought by a bakery B. Oven bought by a bakery C. Office supplies bought by an accounting firm D. Gasoline bought by a trucking company