Price controls are used to ______.
a. alter the natural market equilibrium price
b. prevent changes to the natural market equilibrium price
c. reduce government influence on the natural market equilibrium price
d. eliminate taxes at the natural equilibrium price
a. alter the natural market equilibrium price
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Once a bargain has been reached and involved parties have agreed to an arrangement, there is no need for either party to monitor and enforce the agreement
Indicate whether the statement is true or false
Under the Dawes Act of 1887,
a. nearly 100 million acres of Indian territories were opened for public purchase. b. "squatters" rights were legally recognized. c. substantial tracts of land were granted to western railroads. d. 160 acres was granted to anyone who agreed to plant trees on at least 40 acres.
Growth accounting is seen a useful way to estimate this inputs contribution to growth:
A. technology. B. physical capital. C. labor. D. land.
Private ownership and competitive markets are important for economic growth because they provide individuals with a strong incentive to
a. care for resources and use them beneficially. b. innovate and introduce new products that are highly valued relative to their cost. c. produce goods efficiently. d. all of the above are correct.