?Many externalities arise from poorly defined property rights.
Answer the following statement true (T) or false (F)
True
Rationale: To the extent that laws have not defined the details of property rights, externalities arise in these areas.
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One reason a country does not specialize completely in production is that not all goods and services are traded internationally
Indicate whether the statement is true or false
If labor productivity in the health care industry rises very slowly relative to wages and salaries in the industry, this would tend to:
A. increase the demand for health care. B. decrease the demand for health care. C. increase the supply of health care. D. increase the cost of health care.
Why does inflation make nominal GDP a poor measure of the increase in total production from one year to the next?
What will be an ideal response?
Compare the real cost of commodity resources today (circa 2009) with their cost in the 1845–1850 period. What explains the change?
What will be an ideal response?