Cooperation among people in an urban, industrialized society
A) becomes more difficult as transaction costs increase.
B) is dependent upon people having a detailed, specific knowledge of the wants and abilities of others.
C) is impossible once the number increases beyond a few thousand.
D) requires coordination by central-planning committees.
E) will not occur unless most people approve of the goals and values of others.
A
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If firms are more pessimistic and believe that future profits will fall and remain weak for the next few years, then
A) investment spending will remain unaffected. B) investment spending will rise and then fall. C) investment spending will rise. D) investment spending will fall.
Which of the following countries experienced the sharpest fiscal contraction in order to gain admission to the Euro club?
A) Portugal B) Spain C) Italy D) France