Even-handed enforcement of contracts fuels economic prosperity because it
What will be an ideal response?
promotes gains from trade by keeping transaction costs low.
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Which of the following is a liability of a family?
A. Share of stock B. Unpaid credit card balance C. House D. Checking account balance
If an economist claims there are substitutes for fossil fuels, she is really saying
A) fossil fuels don't have to be economized. B) fossil fuels aren't scarce goods. C) fossil fuels aren't important. D) fossil fuels are used, and maintained, only at a cost. E) economists don't care for fossil fuels.
Suppose the price of gold is $300 per ounce in the United States and 2,400 pesos per ounce in Mexico. If purchasing power parity holds and if the price of oil is 200 pesos per barrel in Mexico, the price of oil is ________ per barrel in the United States.
A. $80 B. $25 C. $36 D. $1,600
Inside information
A. applies to proprietorships and partnerships only. B. applies to all forms of business. C. applies to proprietorships only. D. applies to corporations only.