Which of the following statements is NOT true about exchanges in the market system?
A) In voluntary exchange both parties are better off because of the exchange.
B) Exchanges occur only in situations of barter where the market price is irrelevant.
C) Prices indicate what is relatively abundant and what is relatively scarce.
D) Transaction costs in exchanges include the cost of enforcing a contract as well as the costs of information.
B
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Which international relations theory supports the idea that it wouldn't matter who the hegemon is in a new world system?
a. constructivist theory b. realist theory c. feminist theory d. liberal theory
People often complain bitterly when they learn that CEOs of non-profit companies like the United Way or the Red Cross earn salaries commensurate to what could be earned in by CEOs employed by for-profit companies? Is this complaint valid? Explain
What will be an ideal response?