In the United States, paper money is redeemable for gold
a. True
b. False
Indicate whether the statement is true or false
False
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The following data show levels of planned variables for an economy. I = investment, S = saving after taxes, G = government spending, T = taxation, X = exports, and M = imports. ISGTNXMA222943354640B243445394844C263848425047D284251475351What is the equilibrium level of domestic output?
A. Choice A B. Choice B C. Choice C D. Choice D
Agreements among competing sellers to maintain a certain minimum price or to divide up the market in a particular way
A) are evidence of a cooperative rather than competitive spirit in business. B) are illegal under federal law where it is applicable. C) benefit business firms and their customers, but at the expense of employees. D) increase the number of job opportunities in the economy.
The types of problems in principal-agent relationships typically include
a. adverse selection - whom to hire b. moral hazard - how to motivate workers c. uncertainty - how many workers will be needed d. Both A&B
Identify some of the possible transactions costs involved in an exchange of a used car between two individuals