When a market clearing price is determined
A) the exchange between buyers and sellers is voluntary.
B) the exchange between buyers and sellers is directed by outside factors such as the government.
C) the exchange between buyers and sellers benefits only the buyers.
D) the exchange between buyers and sellers benefits only the sellers.
Answer: A
You might also like to view...
In the last three decades of the 19th century, the long-run supply track of farm prices
(a) indicates a decline in farm prices due to a slowly increasing demand and a more rapidly increasing supply. (b) indicates a decline in farm prices due to a slowly increasing supply and a more rapidly increasing demand. (c) indicates an increase in farm prices due to a slowly increasing supply and a more rapidly increasing demand. (d) indicates relatively constant prices due to the fact that supply and demand were both increasing at about the same rate.
What is insider–outsider theory? How does it explain the downward inflexibility of wages?
What will be an ideal response?