To an economist, a single market is associated with
A. a single group of closely related products.
B. a specific building where trade takes place.
C. all goods traded in a specific geographic region.
D. all buyers living in a specific geographic location.
A. a single group of closely related products.
Economics
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If a country experiences a real GDP growth rate of 1 percent and population growth of 2 percent, then the growth rate of real GDP per person is
A) 3 percent. B) 2 percent. C) 1 percent. D) -1 percent. E) 0 percent.
Economics
If prices in the New Keynesian model were perfectly flexible, then
A) there would be a role for monetary policy. B) the output gap would be positive. C) the equilibrium real interest rate would be the natural rate of interest. D) the output gap would be negative.
Economics