By Offering the Possibility of Repeat Business,the Suppliers and Buyers

question 42

True/False

By offering the possibility of repeat business,the suppliers and buyers can avoid the problems of opportunism that give rise to transaction costs.

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Definitions:

Assumption of State Debts

A policy proposal by Alexander Hamilton in the late 18th century, advocating that the federal government assume debts incurred by the states during the American Revolutionary War.

Alexander Hamilton

A Founding Father of the United States, chief staff aide to General George Washington, and the first Secretary of the Treasury.

Opposition in Congress

Instances or movements within the United States Congress where members challenge, resist, or impede policies, legislation, or leadership.

Slave Population

Refers to the people who were forcibly taken from Africa and other regions to work without wages, primarily in the Americas.