Market exchange assumes that _____
a. there are no monopolies
b. prisoner dilemmas are nonexistent
c. parties to the exchange have well-defined property rights
d. the public sector is failing its job
c
Economics
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The amount by which aggregate spending at full employment exceeds full employment output is known as the:
A. Inflationary gap. B. Recessionary gap. C. Deflationary gap. D. Multiplier effect. E. Crowding out.
Economics
Entry into an oligopoly is
a. possible for anyone b. time consuming c. relatively easy d. impossible e. relatively difficult
Economics