Government's monopoly on force implies that government can both protect and violate rights
a. True b. False
a
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Financial monetary assets which often cannot be readily used in commercial exchanges are included in
A) M1. B) M2. C) prepaid accounts. D) credit cards.
The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium output, the
A) marginal private cost exceeds the marginal private benefit. B) marginal private cost is less than the marginal private benefit. C) marginal social cost equals the marginal private benefit. D) marginal social cost is greater than the marginal private benefit.
Disinflation refers to
A) a rapid increase in the price level. B) a decrease in the price level. C) a reduction in the rate of inflation. D) an increase in the rate of inflation.
Rent controls
a. Is an example of price floors b. Is an example of price ceilings c. Destroy wealth by preventing the movement of apartments to higher-valued use. d. Both b and c