Apple Computer is more likely to continue to use input markets rather than manufacture its own inputs internally when
a. the quality of inputs is difficult to determine
b. switching among input suppliers is easy
c. there are very few firms producing the input
d. the input is difficult to identify and define
e. transaction costs go up
Question 2
One feature of the gold standard was that
a. countries had almost complete control over their own monetary policies
b. surplus could cause the money supply to decrease
c. slow gold production could lead to deflation
d. exchange rates were unstable
e. each currency was worth the same as other currencies
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