_____ increase as we move away from unanimity rule
a. External costs
b. Internal costs
c. Pareto efficiency
d. decision-making costs
a
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Which of the following would not be included in the calculation of accounting profit?
A. The rent paid by the owner for the use of a building. B. The salary the owner could have earned working elsewhere. C. The medical insurance coverage for the company's workers. D. The wages paid to the company's workers.
Agreements among competing sellers to maintain prices and share markets
A) are usually unenforceable in court and illegal under many state laws and under federal law where applicable. B) are very common because they lead to economies of scale and hence greater efficiency. C) enable all sellers to cover their sunk costs but do not guarantee that any seller will be able to cover marginal cost. D) usually result in greater total output but also in higher prices to consumers.
If the government passed a law designating sea shells as money, sea shells
a. would not be legal tender b. would not function as money because they would be unable to serve as a unit of account c. would not function as money because they would be unable to serve as a means of payment d. would not function as money because they would be unable to serve as a store of wealth e. would function as money as long as they were accepted in exchange for goods and services
Other things the same, an increase in the budget deficit
a. shifts the demand for loanable funds right, so the interest rate rises. b. shifts the demand for loanable funds left, so the interest rate falls. c. shifts the supply of loanable funds right, so the interest rate falls. d. shifts the supply of loanable funds left, so the interest rate rises.