All the Costs Associated with Making, Reaching, and Enforcing Agreements

question 198

Multiple Choice

All the costs associated with making, reaching, and enforcing agreements are called

• A) private costs.
• B) opportunity costs.
• C) transaction costs.
• D) social costs.

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Definitions:

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The average number of hours worked per week by employees in a particular firm, sector, or economy.

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An American economist known for his work on measuring the sources of economic growth.

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