Government rules and regulations can, at times,
A) improve the function of property rights.
B) limit free-riders.
C) reduce negative externalities.
D) all of these choices.
D
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A quasi-public good differs from a public good in that unlike a public good, it is possible to keep those who do not pay for the quasi-public good from enjoying the benefits of the good
Indicate whether the statement is true or false
Total spending by domestic residents, businesses, and governments is called
A) investment. B) net domestic purchases. C) absorption. D) GDP.
If a decision maker uses marginal analysis, then the relevant costs are the
A. full costs of a particular activity or product. B. fixed costs that do not vary with the extra activity or output. C. profits obtained on the activity or product. D. average costs for a particular activity or product. E. additional costs of a particular activity or product.
The basic formula for the price elasticity of demand coefficient is:
A. absolute decline in quantity demanded/absolute increase in price. B. percentage change in quantity demanded/percentage change in price. C. absolute decline in price/absolute increase in quantity demanded. D. percentage change in price/percentage change in quantity demanded.