In any society, an effective system of property rights would not be possible without
A) the cooperation of other people.
B) the entire legal system to adjudicate them fairly.
C) the police to enforce them.
D) non-property (public rights).
A
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Suppose that you are earning the maximum amount of money within the 28% tax bracket. If you receive a $1000 raise next year this will place you in the 33% tax bracket. Calculate your tax burden and the amount of increase in your "take-home" pay
What will be an ideal response?
Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 units. Use the midpoint formula to calculate the price elasticity of supply
A) 1.22 B) 1.0 C) 0.82 D) 0.07
How does real gross domestic product (GDP) differ from nominal GDP?
A. Nominal GDP controls for price changes, while real GDP does not. B. Real GDP controls for price changes, while nominal GDP does not. C. Nominal GDP can be used to directly compare the amount of output produced from year to year, while real GDP cannot be used for such comparison. D. There is no difference between nominal GDP and real GDP.
Why might a small investor be interested in buying a mutual fund as opposed to stock in an individual company?
What will be an ideal response?