The term "property rights" refers to
A) the physical possession of a house or any other property which the owner legally purchased.
B) the ability to exercise control over one's own resources within the confines of the law.
C) the government's right to appropriate land from wealthy land owners to redistribute to peasants.
D) the right of a business not to have its assets confiscated by the government in the event that the business is accused of committing fraud.
Answer: B
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Government plays a role in which type of economy?
A. Only free-market economies like the United States B. Only socialist economies C. Only mixed economies D. All economies
If the slope of a line that graphs the relationship between variable x and variable y is positive, then we know that
A) when the value of variable x increases, then the value of variable y decreases. B) when the value of variable x decreases, then the value of variable y decreases. C) the two variables are unrelated. D) the two variables have an inverse relationshi
Which of the following decreases the official U-3 unemployment rate?
A) Workers leave the labor force. B) More women enter the labor force and seek jobs. C) Young people graduate from college and start to look for their first full-time job. D) None of the above because they all increase or do not change the unemployment rate.
According to Gordon, for which of the following should policymakers set a target rate of zero?
A) productivity growth B) inflation rate C) unemployment rate D) None of the above