Which of the following is not an obstacle to achieving environmental efficiency through markets?
a. Transactions costs.
b. Income effects.
c. Free-rider problems.
d. Private negotiations.
d
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A firm's economic profit is the difference between its total revenue and total costs, including the opportunity costs of the resources used in the business
a. True b. False Indicate whether the statement is true or false
Which of the following is a property of a typical indifference curve?
a. upward sloping b. bowed away from the origin c. does not intersect another indifference curve d. a higher one is preferred to a lower one
The international agreement signed in 1947 to promote world trade by reducing tariffs and other barriers to international trade was called
A. WTO. B. Bretton-Woods agreement. C. GATT. D. NAFTA.
Why are real interest rates more important than nominal interest rates with regard to analyzing the supply and demand of loanable funds?