In a competitive market, the actions of any single buyer or seller will
a. discourage entry by competitors.
b. influence the profits of other firms in the market.
c. have a negligible impact on the market price.
d. None of the above is correct.
c
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According to the liquidity premium theory, if market participants expect that inflation in the future will be lower than it currently is, the yield curve will
A) slope upward. B) be flat. C) be inverted. D) be vertical.
A country with a lower relative cost of production of a particular good has a(n) _______ advantage and it is likely to _______ this good.
A) absolute; import B) comparative; import C) comparative; export D) absolute; not export
In 2017, health care's share of gross domestic product in the United States was about
A) 6.5 percent. B) 18 percent. C) 45 percent. D) 62.5 percent.
The balance of trade identity says the current account is equal to ________.
A. the reserve account B. 100 C. zero D. the sum of the capital account and the financial account