In some markets, ________ act to adjust the price to bring the market into equilibrium
A) bulls
B) regulators
C) market makers
D) web sites
C
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Price floors, such as government price support programs, _____
a. decrease consumption b. increase production c. decrease production d. a and b e. a and c
The approach to understanding the determination of real GDP and the price level that emphasizes incomplete adjustment in the prices of many goods is
A) the classical model. B) the Keynesian model. C) Say's law. D) the aggregate demand model.
If a firm decides to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain permission to reduce price below a specific threshold, and the manager only has one source of information, the sales agent, the solution would
a. Work b. Not work c. Work in all circumstances d. None of the above
Which of the following would not be counted as a final good for inclusion in GDP?
a. a piece of glass bought by a consumer to fix a broken window b. a sheet of glass purchased by General Motors for the side window of a new car c. a sheet of glass produced this year and ending up in the inventory of a retail hardware store d. All of the above are counted.