When _____ are ______, it will be difficult to reach a private solution

a. transactions costs; high
b. transactions costs; low
c. externalities; visible
d. externalities, invisible

a

Economics

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Throughout the 1980s, the Federal Reserve

a. primarily targeted M1. b. primarily targeted M2. c. returned to targeting the federal funds rate. d. began targeting inflation.

Economics

If a country has a comparative advantage in the production of all goods, it should:

a. specialize in the production of goods with the lowest opportunity cost. b. specialize in the production of goods with the highest opportunity cost. c. specialize in the production of goods with the absolute advantage. d. specialize in the production of goods without the absolute advantage. e. not specialize at all and produce all the goods itself.

Economics