Markets
A) facilitate trade.
B) allow traders to enjoy gains from trade.
C) coordinate price information between buyers and sellers.
D) All of the above answers are correct.
D
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Coordination of economic policies among nations is a prisoner's ________ because all countries will be better off if they ________
A) dilemma; cooperate B) conundrum; cooperate C) sentence; compete D) screed; compete E) quandary; collude
The budget constraint represents:
a. all possible consumption combinations of goods that someone can afford when all income is spent. b. a single consumption combination of goods that someone can afford when all income is spent. c. all possible consumption combinations of goods that someone can afford when disposable income is spent. d. all possible consumption combinations of goods that society can afford when all income is spent.
What does "random walk" mean? According to the efficient markets hypothesis, should stock prices follow a random walk?
The price elasticity of supply at a point is the:
A. change in quantity supplied divided by the change in price. B. change in price divided by the change in quantity supplied. C. percentage change in price divided by the percentage change in quantity supplied. D. percentage change in quantity supplied divided by the percentage change in price.