According to your textbook, markets tend to "clear" due to
A) the use of threat and coercion.
B) the competitive bidding process.
C) the intervention of expert economists.
D) a well-managed national economic plan.
B
Economics
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George believes that the inflation in this year will be around 9% because it was around 9% in the previous year. George can be said to have:
A) rational expectations. B) marginal expectations. C) adaptive expectations. D) composite expectations.
Economics
Refer to the figure above. In equilibrium, ________
A) Firm 1 will follow Strategy Y, and Firm 2 will follow Strategy X B) Firm 1 will follow Strategy X, and Firm 2 will follow Strategy Y C) both firms will follow Strategy X D) both firms will follow Strategy Y
Economics