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Author Question: When the term price is used in the law of demand, price refers to A) the dollar price of the ... (Read 56 times)

Alygatorr01285

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on: Jun 29, 2018
When the term price is used in the law of demand, price refers to
 
  A) the dollar price of the good.
  B) the price of the good relative to the price of another good.
  C) the absolute price of the good.
  D) the nominal price of the good relative to its nominal price in the previous year.

Question 2

The price system has
 
  A) prices fixed by the government.
  B) prices fixed by the seller.
  C) voluntary exchange.
  D) prices fixed by the producer.


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aburgess

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


Alygatorr01285

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Mochi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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