Private markets can allocate resources optimally
a. under all circumstances
b. only if property rights are well defined and can be easily enforced
c. whenever property rights are well defined, regardless of whether they can be easily enforced
d. whenever property rights can be easily enforced, regardless of whether they are well defined
e. whenever there is no government intervention in the market
B
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In the probit regression, the coefficient ?1 indicates
A) the change in the probability of Y = 1 given a unit change in X B) the change in the probability of Y = 1 given a percent change in X C) the change in the z- value associated with a unit change in X D) none of the above
Countries that are authoritarian in nature ______.
a. can pursue policies to increase economic growth b. seldom achieve meaningful economic growth c. become more democratic as their economies grow d. are not interested in economic growth
If at full employment the government wants to increase its spending by $100 billion without increasing inflation in the short run, it must do which of the following?
A) Raise taxes by more than $100 billion B) Raise taxes by $100 billion C) Raise taxes by less than $100 billion D) Lower taxes by $100 billion E) Lower taxes by less than $100 billion
The market structure of monopoly exists when
A. there are many producers of differentiated products. B. there are a small number of interdependent firms that constitute the entire market. C. there are many producers of a homogeneous product. D. there is a single producer of a product.