A legal system that provides secure private property rights and unbiased enforcement of contracts
a. is unnecessary for the smooth operation of markets.
b. reduces the efficiency of markets.
c. enhances the efficiency of markets.
d. makes it easier for sellers to cheat or defraud consumers.
C
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The federal agency that ensures that potential security purchasers are well informed is the
A) FCC. B) FTC. C) NRC. D) SEC.
A decrease in foreign output would cause the domestic country's net exports to ________ and cause the domestic country's IS curve to ________
A) rise; shift up B) rise; shift down C) fall; shift up D) fall; shift down
Which of the following economic functions does the U.S. government perform?
A. collects taxes B. provides services C. issues regulations D. The U.S. government performs all of these tasks
The change in total product occurring when a variable input is increased and all other inputs are held constant is
A) average total cost. B) marginal cost. C) average product. D) marginal product.