A free market is a market:
A) that has price controls imposed by a ruling authority.
B) where almost all exchanges take place involuntarily.
C) where determination of equilibrium quantity is free from the forces of demand and supply.
D) that operates with little or no government control.
D
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According to Keynesians, an increase in the money supply will have its greatest impact on real GDP and least impact on the price level when the aggregate demand curve intersects
a. the vertical portion of the aggregate supply curve b. the upward sloping portion of the aggregate supply curve c. the horizontal portion of the aggregate supply curve d. either the upward sloping or the vertical portions of the aggregate supply curve e. either the horizontal or vertical portions of the aggregate supply curve
Voluntary export restraints are illegal under international trading rules.
Answer the following statement true (T) or false (F)