It is generally agreed that
A) the financial system would be more efficient if intermediaries were eliminated.
B) small- and medium-sized firms benefit by the actions of intermediaries.
C) the addition of intermediaries adds to transactions costs.
D) intermediaries should not seek to profit from reducing transactions costs.
B
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With higher future taxes
A) current consumption declines. B) current consumption stays the same. C) current consumption increases. D) current consumption depends on other factors.
If the government wants to encourage spending on research and development, it should
a. reduce patent protection so many individuals can use new products in their own research b. shorten the number of years during which a developer has exclusive patent rights to market an invention c. increase the number of years during which an inventor has exclusive patent rights to market an invention d. raise tax rates on corporate profits to raise money for the research e. encourage firms and households to spend money instead of saving it