If the legal and regulatory environment fails to protect property rights and is often used to favor some at the expense of others, which of the following is most likely to be encouraged?
a. productive activities
b. a high rate of investment
c. rent-seeking and unproductive activities
d. competitive markets
C
You might also like to view...
The figure shows the demand curve for hotel rooms at a local resort
a. If the hotel charges $120 per night, how many rooms will they rent? b. If there are only 40 rooms available, how much are customers willing to pay for a room? c. If 60 rooms are available, how much are customers willing to pay? d. What do the dollars in your answer to part (c) represent?
Which of the following types of mortgage loans became more common during the housing boom of the early-to-mid 2000s?
A) those with flawed credit histories B) thirty-year, fixed-rate mortgages C) prime Mortgages D) those with down payments of at least 20%
A factor of production that can be easily changed in the relevant time period is called a
A) fixed input. B) temporary input. C) variable input. D) substitution input.
All the costs of a transaction are referred to as
A) transfer costs. B) transactions costs. C) marketing expenditures. D) accounting costs.