A market in which businesses, households, and governments buy and sell national currencies is
A. the dollar exchange market.
B. the currency exchange market.
C. the money exchange market.
D. the foreign exchange market.
Answer: D
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The introduction of satellite television systems would cause the Lerner Index for cable television to
A) become smaller. B) increase. C) change in accordance to the increase in market power of cable TV providers. D) be unchanged.
Prices play a role in a market
A) because they distribute scarce goods to those consumers who value them most highly. B) because when prices are in equilibrium, product shortages or surpluses can occur. C) because they help eliminate poverty. D) because they eliminate scarcity.
Banks are considered a safer place to deposit money now than they were prior to 1933 because: a. gold reserves have increased
b. reserve requirements are higher. c. they are more closely regulated. d. the FDIC was created.
Exploiting substantial scale economies is an explanation of why some industries come to be categorized as monopolistically competitive.
Answer the following statement true (T) or false (F)