Even-handed enforcement of contracts fuels economic prosperity because it
What will be an ideal response?
Promotes gains from trade by minimizing the costs of entry and enforcements of contracts.
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Why is a consumer's satisfaction maximized when the marginal benefit from the last dollar spent on one good is equal to the marginal benefit from the last dollar spent on another good?
What will be an ideal response?
Consider the production possibilities frontier displayed in the figure shown. A society faced with this curve could choose to produce:
A. A, B, or D.
B. A, B, or C.
C. A, D, or C.
D. B, C, or D.
Alex has an income of $50 . She spends her entire money either on burgers or on cookies. If the price of a burger is $10 and the price of a cookie is $5, Alex can afford a consumption bundle of 3 burgers and 8 cookies
a. True b. False Indicate whether the statement is true or false
An appropriate Keynesian response to an inflationary gap is to: a. decrease net taxes
b. decrease government spending. c. decrease interest rates. d. decrease the cash reserve ratio.