The arrangements that individuals have with each other to exchange goods is known as
A) demand.
B) supply.
C) a market.
D) complements.
Answer: C
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Which of the following is always true for a single-price monopolist?
A) P > MR B) P < MR C) P = MR D) P = elasticity of demand E) None of the above answers is correct because none of them is always true.
If the liquidity effect is smaller than the other effects, and the adjustment to expected inflation is slow, then the
A) interest rate will fall. B) interest rate will rise. C) interest rate will initially fall but eventually climb above the initial level in response to an increase in money growth. D) interest rate will initially rise but eventually fall below the initial level in response to an increase in money growth.
Which of the followings does NOT describe the goods market in the ISLM model?
A) consumption function B) investment function C) government spending and tax D) money demand function
Real GDP per person can increase:
A. only if the share of the population employed decreases. B. if the share of population employed and/or average labor productivity increases. C. only if average labor productivity increases. D. only if the share of the population employed increases.