Explain why contracts are beneficial to markets
What will be an ideal response?
Contracts specify the terms of trade, facilitating exchange between strangers.
Economics
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The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, the deadweight loss in the Appleville housing market is
A) zero. B) at least $15,000 per month. C) at most $7,500 per month. D) 300 units per month.
Economics
Economists call a severe prolonged economic recession a:
a. slump. b. depression. c. stagnation. d. stagflation. e. trend.
Economics
Referring to Table 4.2, Box E should be filled with 
A. $3. B. $0. C. $30. D. $20.
Economics
In capitalism,
there is no competition most property is privately owned the government sets most prices there is no freedom
Economics