The costs associated with reaching and enforcing agreements are called
A) private property costs.
B) common property costs.
C) transaction costs.
D) public costs.
Answer: C
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In the specificfactors model, how will immigration affect the sending country's production possibilities frontier?
a. It will shift it to the right. b. It will shift it to the left. c. It will not affect its production possibilities curve. d. Immigration will first shift it to the left, then shift it back to its original position.
Recently, many cities have attempted to pass laws taxing the sale of sugary drinks such as soda pop. If one of these laws passes, we would expect
A) the supply curve for soda pop to shift to the right. B) the supply curve for soda pop to become more vertical. C) the demand curve for soda pop to shift to the right. D) the demand curve for soda pop to shift to the left.