Which of the following characteristics of money can be found in bars of gold?
a) portability, uniformity, and stability in value
b) portability and acceptability
c) uniformity, acceptability, and stability in value
d) uniformity and durability
e) portability and stability in value
Ans: d) uniformity and durability
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A requirement that buyers of one service also purchase another service from the same seller is called
a. exclusive dealing b. an interlocking merger c. a second good contract d. a tying contract e. a legal agreement
According to Coase, the optimal allocation of resources is guided by
a. the decisions of a firm's managers b. market prices when market transaction costs are greater than the firm's internal organization costs c. the decisions of a firm's managers when market transaction costs are greater than the firm's internal organization costs d. the decisions of a firm's managers when market transaction costs are less than the firm's internal organization costs e. entrepreneurs