Identical products, as well as a large number of buyers and sellers, are characteristics of a market. In such markets, sellers of goods influence the prevailing market price, giving them the role of price in the market. True or False: The market for tomatoes does not exhibit the two primary characteristics that define perfectly competitive markets. True

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

Both a demand curve and a demand schedule show how a. prices affect consumer demand. b. consumer demand affects income. c. prices affect complementary goods. d. consumer demand affects substitute goods.

How much of your paycheck do you have immediate access to once you deposit it into your bank account a. all of it b. a portion of it c. none of it