Some form of financial distress can become a full-blown recession if risk lead to ____ interest rates and ____ aggregate demand.

Transaction costs are likely to be ________ when property rights are ________ clearly defined

A) lower ; less B) higher; more C) lower; more D) Trick question: there is no causal relationship between transaction costs and property rights.

Developing numerical value for utility allows us to:

a. evaluate a consumer's purchasing power. b. be more specific about the utility of consumption. c. be more specific about consumer demand. d. evaluate the quality of a commodity.