national and international markets, exchange rates and economic treaties.

economic sectors, the business cycle and monetary and fiscal policies.

national output, interest rates, unemployment and inflation.

individual economic units, such as consumers, firms, workers and investors.

When the price of a good goes up, consumers buy less of it.

When the Federal government sells bonds interest rates rise and private business investment is reduced.

all of the above

When the price of a good goes up, firms produce more of it.

none of the above

Perfectly competitive markets are composed of many buyers and sellers.

Some markets may have only a few sellers but exhibit the properties of perfect competition.

A market may be composed of only one buyer and one seller.

All of the above statements are correct.

buy in the low-price market and sell in the high-price market.

none of the above

sell in both markets to capture a lower average "market price."

sell in the low-price market and buy in the high-price market.

national output, interest rates, unemployment and inflation.

individual economic units, such as consumers, firms, workers and investors.

national and international markets, exchange rates and economic treaties.

economic sectors, the business cycle and monetary and fiscal policies.

none of the above

When the Federal government sells bonds interest rates rise and private business investment is reduced.

all of the above

When the price of a good goes up, consumers buy less of it.

When the price of a good goes up, firms produce more of it.

Perfectly competitive markets are composed of many buyers and sellers.

Some markets may have only a few sellers but exhibit the properties of perfect competition.

All of the above statements are correct.

A market may be composed of only one buyer and one seller.

buy in the low-price market and sell in the high-price market.

sell in both markets to capture a lower average "market price."

sell in the low-price market and buy in the high-price market.

none of the above