Without contracts, what type of transactions would occur?
A) forward purchases.
B) lateral purchases.
C) spot transactions.
D) side bars.
C
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Minimum wages:
A) benefit all workers. B) are usually set below equilibrium wages. C) can reduce wage rigidity. D) can increase unemployment.
Why do decision makers tend to ignore external costs? How can internalizing external costs move us closer to efficient levels of output?
Over time, the terms of trade of Latin American countries have generally ________, and the terms of trade of developed countries have generally ________
A) worsened; worsened B) worsened; improved C) improved; worsened D) improved; improved
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. Gwen's Country Curtains is currently manufacturing and selling 1,000 pairs of curtains per month. The ________ for this company is $80,000.
A. total revenue B. fixed cost C. profit D. total cost