Which of the following contracts is considered self-enforcing?
a. An assurance provided by a lawyer to his/her client to win a case.
b. A futures contract purchased through a NYSE broker.
c. An agreement between two oligopolists to follow uniform pricing strategy.
d. An agreement between two students to share assignment responsibility.
B
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Unemployment that emerges during sectoral shifts in the economy is known as ________
A) structural unemployment B) discouraged unemployment C) cyclical unemployment D) frictional unemployment
John reads in a local newspaper that a decrease in the demand for money has resulted in a decrease in the interest rate. He realizes that this is the prime time to buy a car with low interest rates. Which of these factors is driving John's demand in this example?
a. The interest rate effect b. The exchange rate effect c. The wealth effect d. The accelerator effect