Enforcement of private property rights is ordinarily entrusted to the
A. individual property owners.
B. government.
C. social conscience of buyers and sellers.
D. military.
Answer: B
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Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods. B) Firms are the suppliers in the market for labor as well as the market for consumer goods. C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods. D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.
A payroll tax is also referred to as a social insurance tax
a. True b. False Indicate whether the statement is true or false
When the current price of a good is below the equilibrium price:
A. there will be excess supply. B. buyers have an incentive to offer to pay sellers more than the current price. C. the price will tend to stay below the equilibrium price. D. sellers will notice their inventories are growing.
Which of the following is a limitation of the aggregate expenditure model?
a. It always assumes changes in price level create changes in autonomous consumption. b. It always assumes the economy is at equilibrium. c. It does not allow for changes in aggregate demand. d. It does not allow for the economy to self-correct.