High transaction costs will tend to
a. reduce the number of mutually beneficial exchanges that occur.
b. allow easier specialization according to the law of comparative advantage.
c. increase the value created by exchanges in an economy.
d. increase the number of mutually beneficial exchanges that occur.
A
You might also like to view...
Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent of GDP
A) seven B) fifteen C) twenty-five D) sixty
If the Fed wanted to expand the money supply as part of an antirecession strategy, it could
a. increase the reserve requirements. b. buy U.S. securities on the open market. c. raise the discount rate. d. sell U.S. securities on the open market.
The long-run labour demand curve is relatively flatter than the short-run labour demand curve because, in the short run
A) the wage rate is fixed. B) the firm cannot vary the amount of capital used. C) the firm is a price taker. D) All of the above
Which act of Congress declared tying contracts, exclusive dealing, and price discrimination illegal?
A. Celler-Kefauver Act. B. Sherman Antitrust Act. C. Clayton Act. D. Robinson-Patman Act.