In which setting are the transaction costs of making an exchange likely to be the highest?
A) buying cereal at the grocery store
B) buying a house
C) buying a computer over the Internet
D) buying stock in a company
E) buying a Big Mac at McDonald's
B
Economics
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The slope of the consumption function shows how: a. consumption changes over time. b. consumption changes as household size changes
c. consumption changes as the price level changes. d. income changes as the level of consumption changes. e. consumption changes as the level of income changes.
Economics
Two products that are usually consumed jointly would be referred to as
a. substitutes. b. complements. c. inferior goods. d. unrelated goods.
Economics