In China prior to 1990, most residential buildings were dilapidated because:
a. people were not aware of maintenance and beautification techniques.
b. the government did not encourage wastage of resources for such purposes.
c. no one had a property right to a home.
d. all the properties were inherited.
e. the people had private property rights so they did not have an incentive to repair the houses.
c
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The symmetry principle in economics means that
A) all individuals must have similar outcomes. B) all similar individuals must be treated similarly. C) individuals must have opposite outcomes. D) similar individuals must have similar outcomes.
In the long run, command-and-control (CAC) regulations encourage firms to develop new technology to lower future emissions
a. True b. False Indicate whether the statement is true or false
The law of increasing costs is based on each of the following, except
A. the law of scarcity. B. the law of diminishing returns. C. diseconomies of scale. D. factor suitability.
The In the News article in the text titled "Fiscal Policy in the Great Depression" discusses fiscal spending and taxation. During the Great Depression, the federal government pursued a policy of fiscal restraint that led to
A. A decrease in aggregate demand. B. An increase in aggregate supply. C. A decrease of the federal deficit. D. The retirement of bonds, which reduced the federal debt.