To be certain that exchange between people is mutually beneficial, we generally assume
A) not all people are free to enter the market at will, but once in they are free to make any offer to trade.
B) all people have complete information about each other's preferences.
C) there are no transaction costs.
D) both B and C
E) both A and B
D
Economics
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In the long-run, what happens to the aggregate price level when the Federal Reserve decreases the money supply?
a) The aggregate price level falls. b) The aggregate price level rises. c) The aggregate price level rises and then falls. d) The aggregate price level does not change.
Economics
Suppose the price elasticity of demand for iPods is inelastic. What would you expect about the demand elasticity for workers producing iPods? Explain
What will be an ideal response?
Economics