In economics, transaction costs refer to the
a. time, effort, and other resources needed to search out and negotiate an exchange.
b. dollar cost or price of the item traded.
c. cost an economy suffers when it allows specialization according to comparative advantage.
d. amount by which the price of an item increases due to the presence of a middleman.
A
Economics
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The aggregate demand effect from a rise in government spending is maximized
A) the lower the level of capital mobility. B) the higher the level of capital mobility. C) when the exchange rate floats freely. D) when the rise is matched by a decrease in the money supply.
Economics
A supply curve that is parallel to the quantity axis is
A) perfectly elastic. B) perfectly inelastic. C) relatively inelastic. D) unitary elastic.
Economics