In input, or factor, markets
A. firms supply goods.
B. households supply resources.
C. households demand goods.
D. consumers purchase products.
Answer: B
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However, this type of bargaining will tend to be limited when:
If the golfers at Green Golf all have identical demands and Green Golf practices two-part pricing, the profit-maximizing user fee is ________ Green Golf's marginal cost.
A) one-half of B) equal to C) greater than D) less than
Which government program would be considered an "entitlement" program?
A) national defense B) subsidies for mass transportation C) law enforcement in major U.S. cities D) Social Security
According to Adam Smith, what is the primary source of a nation's wealth?
A. the amount of gold and silver in the government's possession B. a spirit of cooperation in which people share according to their means C. strong central planning authorities D. the people's ability to produce products and trade in free markets