Joe has broken the mirror of my car. I have legal recourse to sue for damages because of
A) social costs.
B) transactions costs.
C) common property rights.
D) private property rights.
Answer: D
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The U.S. historical evidence
A) generally supports the quantity theory of money in the long run. B) does not support the quantity theory of money. C) demonstrates that there is no correlation between the money growth rate and inflation. D) shows that a higher inflation rate causes an increase in the money growth rate.
Computer technology has enhanced a manager's ability to "know the customer."
Indicate whether the statement is true or false
For a monopolistically competitive firm
A. price is greater than marginal revenue at all levels of output except for the first unit. B. price equals marginal revenue at all levels of output. C. price is less than marginal revenue at all levels of output. D. the demand curve is perfectly inelastic and marginal revenue is zero.
A nation's import demand curve for a specific product:
A. is upsloping. B. shows the amount of the product it will import at prices below its domestic price. C. lies above its export supply curve for the product. D. depends on domestic demand for the product, but not on domestic supply.