What does the phrase "rules of the game" refer to?
A) any factor that facilitates production and exchange, such as tax laws and property rights
B) a gradual but consistent change in the price level until a fair price is attained
C) the election laws which ensure that all elections are fair
D) the requirements placed on firms in earning a profit

Question

What does the phrase "rules of the game" refer to?  
A) any factor that facilitates production and exchange, such as tax laws and property rights 
B) a gradual but consistent change in the price level until a fair price is attained 
C) the election laws which ensure that all elections are fair 
D) the requirements placed on firms in earning a profit

Quizplus · Accepted Answer

The phrase "rules of the game" typically refers to the legal and institutional framework that facilitates economic activity, including tax laws, property rights, and other regulations that govern how businesses operate.

What Does the Phrase "Rules of the Game" Refer To