In Germany, banks __________ shares in the large firms they lend to, which __________ lender-stockholder conflict
A) are not allowed to own; is their way of minimizing
B) are not allowed to own; gives rise to
C) own a considerable bloc of; is their way of minimizing
D) own a considerable bloc of; gives rise to
C
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The majority of dollars spent by government prior to the Great Depression was spending at the ________. In the post World War II period, two-thirds to three quarters of all dollars spent by government in the United States are spent at the ________
A) state and local levels; federal level B) state and local levels; state level C) federal level; state and local levels D) local level; state level
Although tacit collusion can enhance the price-setting power of the participating firms, it can also result in greater efficiency in production, which also benefits society
Thus, it is not immediately clear, a priori, when tacit collusion actually hurts or helps consumers. Indicate whether the statement is true or false
An accountant shows an invoice for a resource to the manager of the firm. They are discussing
A) explicit costs. B) implicit costs. C) economic profits. D) either explicit costs or implicit costs, but we can't tell without more information.
Value judgments in economics:
A. are essential parts of positive economics. B. can be avoided through the use of normative economics. C. are necessary when objective analysis cannot address a question. D. can always be avoided with the use of objective analysis.