Which of the following illustrates government acting as a referee?

a. taxing high income persons
b. enforcing contract provisions between buyer and seller
c. buying new weapons for defense
d. mailing checks to social security recipients
e. collecting data on imports and exports

b

Economics

You might also like to view...

If unplanned inventory changes are positive, what is the relationship between aggregate planned expenditure and real GDP?

What will be an ideal response?

Economics

In the above figure, if the market produces the efficient amount of purses then producer surplus equals triangle

A) abc. B) bcd. C) adc. D) dce.

Economics