The government enforces property rights by
a. requiring property owners to pay property taxes.
b. providing police and courts.
c. forcing people to own property.
d. providing public parks and recreation facilities.
B
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The main item in the current account balance is
A) net interest income. B) net transfers. C) net exports. D) net taxes.
Banks became more willing to make subprime loans because of:
A. securitization. B. leveraging. C. hedging. D. herd behavior.
Suppose an economy produces only cheese and fish. In 2010, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2009, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2010,
a. nominal GDP is $500, real GDP is $800, and the GDP deflator is 62.5. b. nominal GDP is $500, real GDP is $800, and the GDP deflator is 160. c. nominal GDP is $800, real GDP is $500, and the GDP deflator is 62.5. d. nominal GDP is $800, real GDP is $500, and the GDP deflator is 160.
Refer to the accompanying figure. If the price is $4 today and there is no change in either supply or demand, one would expect the price in the future to be:
A. less than $4. B. greater than $4. C. greater than $6. D. $4.