Dick has a dog (Spot) that likes to bark at night. Jane, who lives next door to Dick, must be at work every morning by six o'clock. Suppose that there is a noise ordinance that requires Dick to keep his dog quiet
Is there any Coase solution to this problem that does not involve calling the police? Explain.
Since Jane has a right to expect that the dog will remain quiet, Dick could pay her for her troubles if the dog continues to bark.
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In the U.S., the largest share of national income is earned in the form of
a. taxes on production. b. wages and salary. c. interest earned on capital. d. corporate profits.
What is true about the following payoff matrix? A: not cooperateA: cooperateB: do not cooperateA: 2, B: 2A: 1, B: 3B: cooperateA: 3, B: 1A: 0, B: 0
A. Player B is better off lying that she will not cooperate and then cooperate. B. Player A is better off lying that he will not cooperate and then cooperate. C. Players cannot escape the 0-0 payoff. D. Players cannot jointly do better by cooperating.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
The most important international trade organization is
A) the World Bank. B) the World Trade Organization. C) the International Monetary Fund. D) the European Union.