Which of the following can lead to a firm being more efficient that a market? A firm can have I. economies of scale. II. economies of scope. III. lower transactions costs
A) III only
B) I and II
C) II and III
D) I, II and III
D
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What are the main influences on the quantity of real money that people and businesses plan to hold?
What will be an ideal response?
When the Fed buys $10 million in T-bills, interest rates will ________ because the LM curve shifts ________
A) fall; left due to the increase in the demand for money and loans B) rise; right due to the increase in the supply of money and loans C) fall; right due to the increase in the supply of money and loans D) rise; left due to the increase in the supply of money and loans
When people "vote with their feet" they _____
a. move to the governmental jurisdiction with the lowest taxes b. move to the governmental jurisdiction that have the bundle of government goods and services closest to their preferred level c. move to the governmental jurisdiction with the best schools d. move to democracies from dictatorships
There is substantial agreement among scholars that at least two functions of government are legitimate. These two functions are the
a. protection of the rights of individuals to their person and property and the provision of goods that cannot easily be provided through markets. b. redistribution of income from some individuals to others and the waging of war to expand the nation's territory. c. production of postal services and cable television. d. taxation of goods that are generally considered immoral or bad and the regulation of large corporations.