If the reserve ratio is 4 percent, then the money multiplier is

The U.S. economy is not a perfectly competitive market. There are costs associated with negotiating contracts, enforcing agreements, taxes and less than perfectly competitive firms. Nevertheless, according to Wallis and North (1986), the U.S

economy has grown in the presence of these transaction costs and these costs have risen sharply as a percentage of GDP between 1890 and 1970. Indicate whether the statement is true or false

If firms anticipate that they are at risk of being held up, firms are more likely to adopt contracts or organizational forms such as

a. investments in reputation b. mergers c. exchange of "hostages" d. All the above