The economic explanation that is given by Nobel laureate economist Ronald Coase for why community property is polluted more often than private property is that
A. people ignore what is not right in front of them.
B. damaging private property indirectly affects individuals' wealth, whereas damaging community property directly affects their wealth.
C. people are not made aware of their actions toward community property.
D. damaging community property indirectly affects individuals' wealth, whereas damaging private property directly affects their wealth.
Answer: D
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If a city decides to restrict the number of pizza parlors,
A) the price of pizza will increase. B) pizza parlors will make higher profits. C) total welfare will decrease. D) All of the above.
In a Lorenz curve, perfect income equality is represented by
A) a vertical line. B) a horizontal line. C) a rectangular hyperbola. D) a 45-degree line originating from the origin.
Of the following groups, who gains from rent controls?
A) landlords
B) construction workers and their union leaders
C) poor people who have a hard time earning enough income to pay high rents
D) high-income people who live in rent-controlled apartments
M1 = 1,000 Small denomination time deposits = 1,500 Savings deposit = 1,800 Money market mutual funds = 300 Large denomination time deposits = 800 If M3 is 5,000, small denomination time deposits are 700, and large denomination time deposits are 900, how much is M2?
What will be an ideal response?