When competition is present and private ownership rights are clearly defined and securely enforced by the legal system, business firms will have a strong incentive to
a. innovate and develop better products and lower cost production methods.
b. spend time attempting to plunder (take) the resources of others.
c. engage in wasteful activities that increase the cost of producing goods and services.
d. use resources during the current period rather than conserving them for the future.
A
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The objective of the Fed and the government is to
a. prevent asset bubbles by recognizing them in real time. b. mitigate the consequences of asset bubbles by recognizing them in real time. c. prevent asset bubbles by recognizing bad lending practices. d. mitigate the consequences of asset bubbles by recognizing bad lending practices.
The result that, under certain conditions, government intervention is unnecessary to fix a negative externality because it can be eliminated through bargaining between the affected people is called
A. the Coase Theorem. B. collective bargaining. C. a Nash equilibrium. D. social justice.
Refer to the following nonlinear model which relates W to P, Q, and R:W = aPbQcRdThe computer output form the regression analysis is: 
Based on the info above, which of the parameter estimates are statistically significant at the 5% level of significance?
A. All parameter estimates except â and b? are statistically significant. B. â is not statistically significant, but all the rest of the parameter estimates are significant. C. c? is not statistically significant, but all the rest of the parameter estimates are significant. D. All the parameter estimates are statistically significant.
An increased demand for lawyers' services to prosecute damage suits
What will be an ideal response?