Author Question: Because the actual market-capitalist system is a combination of market processes and political ... (Read 49 times)

joe · **on:** Jun 29, 2018

Because the actual market-capitalist system is a combination of market processes and political processes,

A) it can only be managed appropriately by well-trained political economists.
B) it is often unclear where to place the blame when things go wrong.
C) political considerations will always ruin the market process.
D) economic considerations will always ruin the political process.

Question 2

Which of the following statements is true?

A) In cases of auctions and bilateral negotiations, prices tend to approach the competitive equilibrium.
B) Bilateral negotiations allow a single buyer and a single seller to privately negotiate with bids and asks.
C) In auctions, buyers prefer buying from sellers with the highest ask prices.
D) In auctions, sellers prefer selling to buyers with the lowest bid prices.