Prices
What will be an ideal response?
- = money paid for items purchased by buyers
- = money received for items sold by sellers
- are determined or negotiated by seller & buyer interaction in markets
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Consider the following three statements:
i. You can either stand during a college football game or you can sit. You believe that you will see the game very well if you stand and others sit but that you will not be able to see at all if you sit and others stand. You therefore decide to stand. ii. Your friend tells you that he expects many people to stand at football games. iii. An economist studies photos of many college football games and estimates that 75 percent of all fans stand and 25 percent sit. Which of these statements deals with optimization, which deals with equilibrium, and which deals with empiricism? Explain.
In the United States in 2014, the percentage of people with private health insurance was about
A) 17%. B) 29%. C) 74%. D) 83%.
What are the key differences among public production, private subsidies, and vouchers?
What will be an ideal response?
Which of the following transactions is not a use of funds for Country A?
a. Increases in Country A's central bank reserve assets. b. Dividends Country A pays to the rest of the world. c. Loans to Country A from the rest of the world. d. All of these are uses of funds. e. None of the above is a use of funds.