Commercially-run forestry companies that have secure property rights over their trees:
A. Harvest them as soon as possible, and replant them when they are harvested
B. Harvest them as soon as possible, and do not replant them when they are harvested
C. Do not harvest them as soon as possible, and do replant them when they are harvested
D. Do not harvest them as soon as possible, and do not replant them when they are
harvested
C. Do not harvest them as soon as possible, and do replant them when they are harvested
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The demand curve for a Giffen good is
A) non-existent. B) upward sloping. C) non-linear but downward sloping. D) vertical.
FDICIA ________ incentives for banks to hold capital and ________ incentives to take on excessive risk
A) increased; decreased B) increased; increased C) decreased; decreased D) decreased; increased
The way we know what commodities are relatively scarce or abundant is through
A) transaction costs. B) prices. C) price ceilings. D) price floors.
Which of the following is not an example of capital?
a. An assembly line robot b. A computer network c. A teller at a bank d. Delivery truck