Which of the following describes a characteristic of a perfectly competitive market?
A) Equilibrium is achieved when demand for the product sold in the market equals the supply.
B) There are many buyers and sellers.
C) There are many sellers but few buyers.
D) There are many buyers but few sellers.
B
Economics
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Ceteris paribus, Real GDP and the unemployment rate are
A) directly related. B) inversely related. C) unrelated. D) directly related when GDP is below its natural level and inversely related when GDP is above its natural level.
Economics
Tanner decides to buy a bond from Joe for $1,000. The money supply will
A. increase by more than $1,000. B. decrease by $1,000. C. neither increase nor decrease. D. increase by $1,000.
Economics