Kris wants to purchase a house. She buys newspapers to read the classified advertisements and spends her evenings with realtors looking at houses. Kris has incurred the ________ costs of making a purchase
A) transactions
B) market
C) buying
D) scale
A
You might also like to view...
The big tradeoff is a tradeoff between
A) efficiency and fairness. B) consumer surplus and producer surplus. C) taxes and subsidies. D) price ceilings and price floors.
Using prices to promote efficiency in the utilization of bridges,
A. higher prices should be charged for the use of the most crowded bridges. B. lower prices should be charged for the use of the uncrowded bridges. C. traffic would be equalized among the bridges where space is a scarce resource. D. All of the responses are correct.
Assume the central bank decides to raise the discount rate. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the left. b. Start the analysis in the real goods market with aggregate demand shifting to the right. c. Start the analysis in the real credit market with demand for real credit shifting to the left. d. Start the analysis in the real credit market with demand for real credit shifting to the right. e. Start the analysis in the real credit market with supply of real credit shifting to the left.
Given two economic systems, A and B, if economy A has a comparative advantage in the production of widgets, then
A) the inputs necessary to produce widgets in economy A cost less than in economy B. B) economy A must give up less of all other goods to produce widgets than economy B. C) economy A is less efficient in the production of some goods than economy B. D) economy A would not benefit from the specialization of production.