Voluntary exchange increases economic efficiency
A) because neither the buyer nor the seller would agree to a trade unless they both benefit.
B) because voluntary exchange only takes place with government permission.
C) because it allows wealthy individuals to act altruistically and give to the poor.
D) because it is free and consequently does not cost anything.
Question 2
Which of the following Nobel laureates became known for the study of asymmetric information?
A) Michael Spence B) Ronald Coase C) George Ackerlof D) Gary Becker
Flexible exchange rates are supposed to prevent long-term trade deficits.
economic question
economic question
economic question (having trouble)
economic question (having trouble)
Beak size in finches during dry years increases because of strong selection