Transaction and information costs
A) benefit borrowers at the expense of savers.
B) benefit savers at the expense of borrowers.
C) transaction costs hurt savers while information costs hurt borrowers.
D) create profit opportunities for those who can reduce these costs.
D
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The laws of supply and demand did not apply to elephant tusks
a. True b. False Indicate whether the statement is true or false
Briefly and concisely define the following terms: a. Price discrimination b. Tying contracts c. Concentration ratio d. Market power
What will be an ideal response?
If the equilibrium price of an hour with a personal trainer is $45 and the market price is currently $55, then there is
A. a surplus of personal trainers. B. a shortage of personal trainers. C. equilibrium.
The formula q/L represents
A. the average product of labor. B. the marginal product of labor. C. the capital-to-labor ratio. D. total product.