When a market clearing price is determined
A. the exchange between buyers and sellers is directed by outside factors such as the government.
B. the exchange between buyers and sellers is voluntary.
C. the exchange between buyers and sellers benefits only the buyers.
D. the exchange between buyers and sellers benefits only the sellers.
Answer: B
Economics
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Refer to Figure 5-1. The market equilibrium price is
A) $60. B) $50. C) $40. D) < $40.
Economics
In his classic treatise on public finance, Richard Musgrave says the economic activities of the state can be broken down into _____
a. allocation, distribution, production b. allocation, distribution, stabilization c. allocation, production, protection d. production, protection, allocation
Economics