Your local grocery store reduces transaction costs to the consumer
A) by reducing the consumer's need to travel from food producer to food producer (or manufacturer to manufacturer) to purchase the food staples that the consumer desires.
B) by providing a system that directs funds from lenders to borrowers.
C) by providing a system of justice to enforce contracts.
D) All of the above are correct.
Answer: A
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A trade policy that allows a country to gain at the expense of other countries is called
A) countervailing duty policy. B) a beggar-thy-neighbor policy. C) an antitrust policy. D) a dumping policy.
A Basic principle of economics is:
A) knowing your customer means understanding their income. B) there are costs involved in any action or decision. C) demand equals supply. D) equilibrium is beneficial. E) size and market share are important goals for a business.
If economic recovery has already occurred by the time the effects of expansionary monetary policy are felt, it could cause an inflation problem rather than curing a recession problem
a. True b. False Indicate whether the statement is true or false
An example of a poverty trap is:
A. the uneducated not knowing how to further develop their economy. B. those who do not have basic immunizations not being healthy enough to develop their economy. C. the malnourished not having enough energy to develop their economy. D. All of these are examples of poverty traps.