All of the following statements about the laissez-faire concept are true EXCEPT:
A. It stands for the belief that government intervention in the market is undesirable.
B. It is costly because it lessens the efficiency with which free enterprise operates to benefit consumers.
C. It is unnecessary because market forces are benevolent.
D. It represents primarily the perspective of business critics.
Ans: D. It represents primarily the perspective of business critics.
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If an identical product can be sold in two different markets, and no restrictions exist on the sale or transportation of product between markets, the product's price should be the same in both markets. This is known as:
A) relative purchasing power parity. B) interest rate parity. C) the law of one price. D) equilibrium.
When the parties know, like, and trust each other, and want to continue the relationship, it follows that negotiations will be more distributive
Indicate whether the statement is true or false