One way the government can encourage economic growth is to:
A. protect property rights.
B. enforce contracts.
C. ensure legal agreements will be upheld.
D. All of these actions will encourage economic growth.
D. All of these actions will encourage economic growth.
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List and briefly describe the five factors of production
What will be an ideal response?
Explain why market power leads to a deadweight loss. Is the total deadweight loss from market power in the United States large or small?
What will be an ideal response?
If a firm's total cost rises as output rises, then
a. marginal cost is positive b. profit cannot be maximized c. total cost is minimized d. marginal cost equals marginal revenue e. the firm should shut down in the short run
Government gets its takings power from
A) the International Court of Justice. B) the Ten Commandments. C) the U.S. Constitution. D) the Declaration of Independence.