Voluntary exchange ________ economic efficiency because neither the buyer nor the seller would agree to a trade unless ________
A) decreases; they both benefit B) increases; they both benefit
C) decreases; neither benefit D) increases; only one party benefits
B
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Exports are products produced in the home country and sold in another country
Indicate whether the statement is true or false
In reading the stock market quotes in the newspaper, the column with the heading "P/E" gives the
A. number of shares of the stock traded that day. B. dividend per share divided by the closing price per share. C. stock symbol for the company. D. latest closing price per share divided by the latest available earnings per share.
In the classical model, changes in interest rates will always ensure that
A) consumption equals production. B) saving equals investment. C) consumption equals investment. D) consumption equals income.
An association of producers in an industry that agree to set common prices and output quotas to prevent competition is
A) a tariff. B) a patent. C) economies of scale. D) a cartel.