Which one of the following is not a condition for a successful water market?
a. Property rights must be clearly defined
b. A system must be in place to resolve conflicts
c. Transaction costs must be relatively high
d. Water demand must exceed water supply
e. Water must be physically transferable
Answer: c. Transaction costs must be relatively high
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An increase in the currency drain ratio
A) decreases the monetary base. B) increases the quantity of money. C) increases bank reserves. D) does not change the amount of the monetary base. E) does not change the quantity of money.
When interest rates go down, people are
a. more likely to borrow b. less likely to borrow c. does not affect a person's consumption d. None of the above
What happens to prices and unemployment when aggregate demand changes in the intermediate zone?
a. They do not change. b. They both decrease. c. They both increase. d. They move in opposite directions.
The most common form of merger(s) in the U.S. economy is (are)
a. the horizontal merger b. the vertical merger c. the conglomerate merger d. horizontal and vertical mergers (equally common) e. horizontal and conglomerate mergers (equally common)