national output, interest rates, unemployment and inflation.

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

national and international markets, exchange rates and economic treaties.

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

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

all of the above

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

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.

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

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

All of the above statements are correct.

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

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

none of the above

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

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

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

national and international markets, exchange rates and economic treaties.

national output, interest rates, unemployment and inflation.

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

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

all of the above

none of the above

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

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

All of the above statements are correct.

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.

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

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."