Which of the following best describes the relationship between transaction costs and conformity costs?
a. The relationship is inverse as efforts to reduce transaction costs serve to increase conformity costs.
b. It is a positive relationship as lower transaction costs result in lower conformity costs.
c. It depends on the nature of the political institutions established in a nation’s constitution.
d. There is no relationship between these costs because they address separate concerns.
a. The relationship is inverse as efforts to reduce transaction costs serve to increase conformity costs.
You might also like to view...
The presiding officer of the Senate is the vice president; in the vice president's absence, however, the __________ presides
a. the majority whip b. the majority leader c. the minority whip d. the president pro tempore
Robert was arrested for committing a serious crime. The prosecution offered to reduce the seriousness of the charge provided Robert conceded to a lesser crime. This practice is known as ________
A. judicial review B. due process C. plea bargain D. indictment E. advisory opinion
The lowest grassroots level of permanent political party structure in Texas is the
a. county chair. b. precinct convention. c. precinct chair. d. county convention. e. state convention delegation.
Elazar’s view of individualistic political culture is that it leads to voters choosing candidates based on:
a. financial compensation. b. who has the best ideas. c. party affiliation. d. personality.