A situation in which the unregulated competitive market outcome is inefficient because prices fail to provide proper signals to buyers and sellers is known as:
A) an imperfectly competitive market.
B) a market failure.
C) a deadweight loss.
D) a disequilibrium.
B
Economics
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The effect of trade on specialized employees of exporting industries will be ________ jobs and ________ pay because they are relatively ________
A) more; higher; immobile B) fewer; lower; immobile C) fewer; lower; mobile D) more; lower; immobile E) more; higher; mobile
Economics
Appendix: In Dutch auctions, the bidding
a. starts low and rises until the highest bidder wins. b. is done in secret "sealed bids" which are opened at a specified time. c. begins with a very high price, and is reduced until the first person takes it. d. is accomplished by giving the price of the second highest bid to the highest bidder.
Economics