Private solutions often are not possible due to the costs of negotiating and enforcing these solutions. Such costs are called:
a. transaction costs

b. external costs.
c. deadweight losses.
d. social costs.

a

Economics

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Since wages fell by more than prices, Civil War laborers were better off

Indicate whether the statement is true or false

Economics

According to Keynesian economics, if there are unutilized resources in the economy and aggregate demand decreases

A) real GDP will rise and price level will remain constant. B) real GDP will fall and price level will remain constant. C) real GDP will rise and price level will rise. D) real GDP will rise and price level will fall.

Economics