Value-creating contracts require underlying laws that:
a. clearly define the rights and obligations of the parties.
b. discriminate between the rights of the different income groups.
c. describe the final distribution of rights among the transacting parties.
d. create equal distribution of wealth.
A
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When did intellectual property rights become part of trade agreements?
What will be an ideal response?
When inflation causes relative-price variability,
a. consumer decisions are distorted and the ability of markets to efficiently allocate factors of production is impaired. b. consumer decisions are distorted, but markets are still able to efficiently allocate factors of production. c. consumer decisions are not distorted, but the ability of markets to efficiently allocate factors of production is impaired. d. consumer decisions are not distorted and markets are still able to efficiently allocate factors of production.