In a "pure exchange" market:
a. resources are owned only by the government.
b. resources are owned by few people.
c. people trade money for goods that are produced in the domestic economy.
d. there is no production and people trade money for goods that already exist.
D
Economics
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The demand for money is
A) positively related to the nominal interest rate. B) positively related to the real interest rate. C) positively related to the price level. D) negatively related to real GDP. E) negatively related to the price level.
Economics
After implementation of the Single European Act, value added taxes in the EU were
A) completely harmonized. B) unchanged. C) partially harmonized with minimum and maximum permissible values set by the EU. D) cut in half in order to increase the role of corporate taxes.
Economics