Richer economies often have more middlemen. Economic thinking indicates that such economies...
What will be an ideal response?
gain since the opportunity costs of arranging trades would be higher without middlemen
You might also like to view...
In the presence of pollution, social welfare is maximized by
A) reducing output and pollution until marginal benefit of less pollution is equal to the marginal cost of less output. B) reducing output and pollution until the benefit curve (of less pollution) and cost curve (of less output) intersect. C) reducing output and pollution until the benefits of pollution reduction just cover the costs of output reduction. D) None of the above.
Which of the following is an example of opportunity cost?
A. The income that could have been earned by working full-time instead of going to college. B. The decline in the grades of a student athlete that occurs because she decides to spend more time practicing sports than on her academic work. C. The value of other things you could have done with the same time and money it cost you to go to the movies. D. All of the choices are examples of opportunity cost.
In a dual economy with limited currency convertibility:
A. neither the traditional nor the international sector tends to be dollarized. B. only the traditional sector tends to be dollarized. C. only the international sector tends to be dollarized. D. both the traditional and international sectors tend to be dollarized.
Which of the following is not one of the ways the PPACA attempts to cover the poor?
A. Requiring larger employers to provide insurance for all of their full-time employees. B. Providing health care directly to the poor through government-run clinics and hospitals. C. Subsidizing the purchase of health insurance for those who buy to comply with the personal mandate. D. Expanding Medicaid to cover anyone with an income less than 133 percent of the poverty level.