Feudalism and mercantilism relied on markets to solve the three main coordination problems.
Answer the following statement true (T) or false (F)
False
Feudalism solved these problems by relying on tradition while mercantilism relied on government intervention.
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Marketable pollution rights _____
a. make producers pay for polluting b. are inherently wrong c. give producers incentive to internalize external costs d. do nothing to reduce pollution in the long run
The benefit to sellers of participating in a market is measured by the
a. amount of taxes collected on sales of the good. b. producer surplus. c. amount sellers receive for their product. d. sellers' willingness to sell.
In a closed economy, national saving equals
a. investment. b. income minus the sum of consumption and government purchases. c. private saving plus public saving. d. All of the above are correct.
In the spot market, the spread is the difference between the bid and offer rates and is the trader's profit margin.
a. true b. false