Value-creating contracts require underlying laws that:
a. clearly define the rights and obligations of the parties.
b. discriminate between the rights of the different income groups.
c. describe the final distribution of rights among the transacting parties.
d. create equal distribution of wealth.
A
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Which of the following is concerned with social regulation?
A) Federal Reserve Board B) Sherman Commission C) Food and Drug Administration D) Board of Education
Possible benefits of a monopoly include which of the following (choose all that apply)? a. a savings of fixed costs because only one firm supplies quantity demanded
b. greater opportunities for research due to long-run positive economic profits. c. government regulation is more effective because the firm is "too big to fail.". d. goods and services are provided at a lower price than under perfect competition because of a monopoly's decreasing average cost curve.
Sarah is able to take out a loan for $5000 for one year at an annual interest rate of 10 percent. After calculating her return to be $450, Sarah will:
A. make $450 on net, and should take out the loan. B. lose $450 on net, and should not take out the loan. C. make $50 on net, and should take out the loan. D. lose $50 on net, and should not take out the loan.