Another term for intermediaries who specialize in reducing transaction costs is
A. service providers.
B. middlemen.
C. consultants.
D. free riders.
Answer: B
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Economies with higher expected inflation rates have short-run Phillips curves that are
A) further to the right. B) upward sloping. C) further to the left. D) closer to being horizontal. E) always vertical.
The money supply will grow faster through deposit creation when the legal reserve requirement is
a. high and banks hold excess reserves b. high and banks cannot find good customers to lend to c. low and banks are able to lend out all of their excess reserves d. low and banks are unable to loan out all of their excess reserves e. high and banks are not able to loan out all of their excess reserves
Mr. Paque is a bear hunter for timber companies that want to diminish damage to trees done by bears in the spring. Due to a reduction in the bear population between 1995 and 2005, Mr. Paque finds fewer bears each year and additional hours spent hunting produce fewer additional bears. This means that Mr. Paque's (i) overall productivity has fallen; (ii) marginal product has fallen
a. i and ii b. i not ii c. ii not i d. neither i nor ii
Within the aggregate demand/aggregate supply framework, what does the quantity produced and purchased in the goods and services market represent?
What will be an ideal response?