Why are high domestic savings rates important?
What will be an ideal response?
High savings rates are correlated with high domestic investment.
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Which of the following is not necessarily a consequence of occupational licensing laws?
A) They ensure that licensed professionals meet some minimum qualifications. B) They result in a higher quality of service. C) They restrict competition. D) Consumers pay higher prices for the services of licensed professions.
Barter requires a double coincidence of wants. This means that:
a. at least two traders must demand a commodity. b. any two traders involved in a transaction must have money. c. each trader must demand at least two commodities. d. either of the two traders involved in a transaction must have money. e. when two traders are involved in a transaction each trader must want what the other has to offer.