Author Question: Used car dealers are able to make a profit by buying used cars at a low price and selling them at a ... (Read 97 times)

theo · **on:** Jun 30, 2018

Used car dealers are able to make a profit by buying used cars at a low price and selling them at a higher price because
a. they sell lemons
b. they can take advantage of unsuspecting consumers
c. they are attempting to maximize their profits
d. the transaction costs to some buyers is less than it would be without the used car dealers
e. there are no transaction costs associated with the process of buying a used car

Question 2

Prior to World War II, the international financial system had operated on
a. a floating exchange rate system
b. a managed exchange rate system
c. a laissez-faire exchange rate system
d. the gold standard
e. the dollar standard