Changing the ownership of the ocean from common property to private property would
A. not be economically desirable.
B. ensure that this resource would be allocated in a more efficient manner.
C. result in no appreciable change in efficiency of utilization of this resource.
D. ensure that this resource would be allocated in a less efficient manner than under common property rights.
Answer: B
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When real income ________, the demand curve for money shifts to the ________ and the interest rate ________, everything else held constant
A) falls; right; rises B) rises; right; rises C) falls; left; rises D) rises; left; rises
Joanne left her last job, in which she was earning $50,000, in order to form her own consulting business. Her revenues for the first year of consulting were $210,000. During that year, she hired two assistants for $25,000 each and spent $25,000 on office equipment. In addition, she incurred $75,000 in miscellaneous expenses. Her accounting profit that first year was
A) $10,000. B) $60,000. C) $210,000. D) $50,000.
Technically, the accelerator relates the level of an economy's investment to the change in its
a. level of national income b. economic growth rate c. ratio of saving to personal income d. ratio of investment to personal income e. rate of depreciation of capital stock
The ECB, like the U.S. Federal Reserve, is ______, and unlike the U.S. Federal Reserve, is not ______.
A) independent; a lender of last resort B) subject to scrutiny by the legislature; able to lend to large corporations C) dependent on congressional approval for its policies; committed to price stability D) able to lend to member governments; able to lend directly to banks