The Coase theorem reminds us that efficiency is all about ____________________ and says nothing about ______________________.
A. maximizing total surplus; the distribution of that surplus
B. equitably distributing surplus; maximizing that surplus
C. who gets the most surplus; whether that's a fair outcome
D. None of these statements is true.
A. maximizing total surplus; the distribution of that surplus
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Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot. B) Corporations face fewer taxes than do proprietorships. C) Corporations have one owner, while proprietorships have many owners. D) Proprietorships have limited liability while corporations have unlimited liability.
Keynesians explain the procyclical behavior of average labor productivity by introducing the concept of
A) menu costs. B) sticky prices. C) labor hoarding. D) sticky wages.