The Coase Theorem assumes
a. transactions are costless c. both (a) and (b)
b. damages are accessible and measureable d. none of the above
c. both (a) and (b)
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The manner in which FDIC deposit insurance is set up in the United States encourages banks to
A) make riskier loans than they otherwise would. B) reject some loans that probably would be profitable. C) be too conservative in their lending practices. D) maintain excess reserves that are too great.
If quantity demanded increases at all possible prices, demand has
A) increased. B) decreased C) remained the same; only quantity demanded has changed. D) remained the same; however, the curve has become more stee
The elements of an effective legal system include ________
A) strict limits on the ability of judges to interpret law B) a temperate climate C) a large body of legislators D) an adequate supply of lawyers
All else constant, the quantity of labor supplied is inversely related to the amount of training required for a job
a. True b. False