All the costs associated with making, reaching, and enforcing agreements are called
A) private costs.
B) opportunity costs.
C) transaction costs.
D) social costs.
Answer: C
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An example of a time series data set is one for which the:
a. data would be collected for a given firm for several consecutive periods (e.g., months). b. data would be collected for several different firms at a single point in time. c. regression analysis comes from data randomly taken from different points in time. d. data is created from a random number generation program. d. use of regression analysis would impossible in time series.
The difference between nominal and real interest rates is that
A. real interest rates are what you get after having adjusted nominal rates for inflation. B. nominal interest rates are what borrowers pay and real interest rates are what lenders receive. C. real interest rates are almost always greater than nominal interest rates. D. nominal interest rates are what lenders receive and real interest rates are what borrowers pay.
Advocates of flexible rates ______.
a. embrace the Bretton Woods system b. argue that flexible rates do not cause inflation c. prefer government control of exchange rates d. believe they can cause currency shortages
In the United States in 2016, the percentage of firms that employed between 3 and 199 workers and offered health insurance as a fringe benefit to the workers was about
A) 29%. B) 42%. C) 55%. D) 98%.