Economies that are primarily market-oriented have fewer regulations.
Select whether the statement is true or false.
A. True
B. False
A. True
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If a firm operates in a competitive industry and its unionized labor force is successful in bargaining for a wage increase, where is the firm likely to get the money to pay the higher wages?
________: the rate of exchange of pairs of consumption goods or services to leave utility or satisfaction unchanged
Fill in the blank(s) with correct word
In a ________ contract you can effectively lock in the price at which you buy or sell a foreign currency at a set date in the future.
A. spot foreign exchange B. currency futures C. securities spot D. covered arbitrage
In which of the following situations is the absolute price elasticity of demand for an item most likely to exceed a value of 1?
A. when the item's share of expenses in consumers' budgets is very small B. when there are very few producers of the item C. when there are very few close substitutes for the item D. when there is considerable time to adjust to a change in the price of the item