Which of the following is true with regard to value and exchange?
a. Exchange generally moves a good from a person who values it more to a person who values it less.
b. Transaction costs reduce our ability to gain from potentially advantageous trades.
c. Middlemen increase transaction costs and, thereby, reduce the potential gains derived from trade.
d. Physical goods have an objective value that is unrelated to time and the person of ownership.
B
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A) no change B) a larger decrease C) an large increase D) a smaller decrease
Suppose you are an advisor to the Business Cycle Dating Committee. You are asked to look at macroeconomic data to evaluate whether the economy has entered a recession this year
Which data do you look at? How does the economy behave at the onset of a recession?
Involuntary transfers are the type of transfers used in the case against government.
Answer the following statement true (T) or false (F)
Mutual funds that attempt to mimic the performance of a broad market index, such as the Dow Jones Industrial Average, are known as:
a. socially responsible funds. b. index funds. c. equity funds. d. fixed-income funds. e. money market funds.