Which contracting party gains from the use of a more sophisticated contract?
a. The principal, who offers the contract.
b. The agent, who accepts the contract.
c. Both parties may lose.
d. Both parties gain equally.
a
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If the government increases expenditure by $40 billion and increases tax revenues by $40 billion, what is the impact on aggregate demand? Explain your answer
What will be an ideal response?
According to the text, a government policy of promoting competition must
A) assure small businesses they won't fail because of below-cost pricing or other predatory practices by larger businesses. B) assure small businesses they won't fail under any circumstances. C) equate profit margins among competing suppliers. D) maintain a process rather than some state of affairs. E) work toward making sellers' demand curves completely elastic.
One barrier to entry into a monopoly market is:
A. the ownership of a key resource or input. B. too many competitors already in the market. C. high input costs. D. few buyers.
The U.S. balance of trade has been in a large surplus since 2001
a. True b. False Indicate whether the statement is true or false