Private property rights involve
a. the right to exclusive use of the property.
b. legal protection against those who would seek to use or abuse the property without the owner's permission.
c. the right to transfer, sell, exchange, or mortgage the property.
d. all of the above.
D
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Which of the following would increase the consumption component of U.S. GDP?
A. A restaurant in Denver purchases a bottle of California wine to include on its wine list. B. The U.S. government buys a bottle of California wine to serve at a state dinner in the White House. C. A person in Paris purchases a bottle of California wine. D. You purchase a bottle of California wine.
The supply of loanable funds is the relationship between loanable funds and ________ other things remaining the same
A) real GDP B) the price level C) the real interest rate D) the inflation rate
A direct relationship exists when:
a. there is no association between two variables. b. one variable increases and there is no change in the other variable. c. one variable increases and the other variable increases. d. one variable increases and the other variable decreases.
The official poverty level is based on
A. after-tax income, and includes both cash and in-kind government subsidies. B. wages and salaries, plus any unreported amounts of income from the underground economy. C. pretax income, and includes cash subsidies but does not include in-kind subsidies such as food stamps. D. total net worth.