1. Which of the following is an ideal condition for a free market? Select one: a. There are no parties, institutions, or governmental units regulating the quantity of the goods being bought or sold in the market. b. There are many buyers and many sellers, and all of them have a substantial share of the market. c. The participants in the market have strong preferences as to which seller or buyer they would deal with. d. All the buyers and sellers in the market are free to leave the market but there are entry barriers. e. All buyers have full knowledge of what other buyers and sellers are up to including quantity of goods sold, but not the prices and quality of goods being sold.
2. According to the Freedom of Information Act, _____. Select one: a. a federal agency is required to respond to a document request within 10 days b. all the documents are available for public inspection c. requesters are not required to pay the cost of locating and copying the records d. any person has a legally enforceable right to access to geological information concerning wells e. there are a total of five exceptions to the Act