Which of the following policies would be most likely to reduce the efficiency of a country's economic organization?
a. a legal structure that establishes secure property rights
b. imposition of tariffs and other barriers limiting international trade
c. competitive markets
d. a stable monetary system
B
Economics
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Opportunity costs:
a. only include explicit costs paid out-of-pocket b. never involve costs paid out-of-pocket. c. may or may not involve costs paid out-of-pocket. d. are always measured in terms of time.
Economics
Economies of scale can be caused by all of the following except
a. price discounts for large scale purchases b. labor specialization c. use of more productive equipment d. increases in the firm's average total cost e. more cost-efficient methods of marketing
Economics