when relationship-specific exchange occurs in simple, contractual environments, the best way to purchase input is not thorough
What will be an ideal response?
spot markets, vertical integration or short term agency agreements
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The four factors of production are land, labor, capital, and government services.
Answer the following statement true (T) or false (F)
An example of a nontradable good is:
A. insurance services. B. fresh pizza. C. a double-decker bus tour of London. D. All of these would be considered a nontradable good.
Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.80, an increase in federal government spending of $100 billion at below full employment would be expected to shift the aggregate demand curve by $500 billion to the right
a. True b. False Indicate whether the statement is true or false
The absolute value of a country's balance on current account will always equal its balance on capital account, although one is positive and the other negative
Indicate whether the statement is true or false