Middlemen have a comparative advantage in
A) lowering transaction costs.
B) raising transaction costs.
C) robbery and theft.
D) tax evasion.
E) buying products at a high price and selling them at a lower price.
A
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To an economist, scarcity means that:
a. it is very time-consuming to find a good. b. at a zero price, the available quantity of a good is insufficient to meet people's wants. c. a good is unavailable even at very high prices. d. at the current market price, the amount available is less than the amount that people want and are willing to pay for. e. resources are unlimited but people's desires are limited.
In the open-economy macroeconomic model, if the supply of loanable funds increases, net capital outflow
a. and the real exchange rate increase. b. and the real exchange rate decrease. c. increases and the real exchange rate decreases. d. decreases and the real exchange rate increases.