The U.S. system of property rights
(a) is strictly private.
(b) is influenced by a mix of private and public forces.
(c) does not permit governmental seizure of property under any circumstances.
(d) does not permit the government to seize earned income through taxation.
(b)
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An oligopoly firm with a differentiated product will generally earn the largest profits without advertising.
Answer the following statement true (T) or false (F)
According to interest rate parity, if the interest rate is 1 percent in the European Union and the euro is expected to appreciate 3 percent, the comparable interest rate in the United States will be
A) 4 percent. B) 3 percent. C) 2 percent. D) 1 percent.
When the goods market is returning to equilibrium following a decrease in the real interest rate, ________
A) saving and output are both rising B) saving and output are both declining C) saving is rising, while output declines D) all of the above E) none of the above
Which of the following would not be considered a negative externality?
a. Smelter, Inc. creates steel and pollution. b. Your friend buys a new puppy that barks every night. c. You have an adverse reaction to a medication your doctor prescribed for you. d. Your neighbor plays loud music that you dislike through stereo speakers set up on his deck.