A barter economy
A) cannot be a market economy.
B) is an economy without monetary exchange.
C) is an economy with no business firms.
D) is not a competitive economy.
B
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Refer to Figure 4-9. What area represents the portion of consumer surplus that has been transferred to producer surplus as a result of the price floor?
A) E B) B + C C) B D) B + E
When one company is owned by a corporation but is chartered separately from the parent company, this is
A. a subsidiary. B. a clone. C. used for tax evasion. D. illegal.
What is a long-run supply curve?
What will be an ideal response?
Fill in the blanks. Which of the following has been found by researchers in surveys of consumers? Most people consider it _________ for firms to raise their prices following an increase in costs ____________ to raise prices following an increase in demand.
a. fair; and fair b. fair; but unfair c. unfair; but fair d. unfair; and unfair