Often trade will not occur because
a. transaction costs are too high
b. neither party has an opportunity cost
c. the benefits to one party just equal the losses to the other party
d. no one expects to gain from the trade
e. the profits of the firm are excessive
A
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The new classical approach to the aggregate supply curve assumes that businesses are
A) better informed about the general price level than they are about prices in their own markets. B) better informed about prices in their own markets than they are about the general price level. C) equally well informed about prices in their own markets and the general price level. D) reluctant to engage in investment spending because of a lack of information concerning future prices.
The short run is that period during which there are no fixed commitments
a. True b. False Indicate whether the statement is true or false