The Coase Theorem points out that externality problems can be eliminated if the number of parties involved is small and if property rights
A) are granted solely to consumers.
B) are granted solely to producers.
C) are eliminated.
D) are granted to either consumers or producers and transactions costs are low.
D
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If the United States imposes a tariff on a good, then
A) domestic consumption of the good decreases. B) foreign production of the good increases. C) the government makes less revenue than it would have gained if it imposed a quota. D) foreign consumption of the good decreases. E) domestic production of the good decreases.
Workers’ reluctance to take nominal pay cuts offers a feasible explanation of why the Phillips Curve relation breaks down when there is deflation.
a. true b. false
A labor union can increase wages by exercising market power on behalf of workers.
Answer the following statement true (T) or false (F)
List the four main factors of production
What will be an ideal response?