The change from prescriptive rights to priority rights meant all of the following except
(a) Entrepreneurial costs of economic development, such as river and lake pollution, had to be paid by those who were responsible for the costs.
(b) The courts encouraged entrepreneurial activity by judicial interpretation.
(c) Amenity rights to scenery, clear air and quiet enjoyment could be reduced.
(d) Judges placed social weights upon property rights that favored some more
than others.
(a)
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Alpha Corp . and Beta Corp . are the only firms in an industry. It is found that Alpha loses its entire market share to Beta when Beta lowers its price. What is the optimum pricing strategy for Alpha?
What will be an ideal response?
If the marginal propensity to consume in a country is 0.6, then a $5,000 increase in transfer payments will lead to a _____ in real GDP
a. $8,000 increase b. $2,500 decrease c. $5,000 decrease d. $7,500 increase
The intuition behind the budget constraint is that
A) more options are preferred to less. B) money is the root of all happiness. C) information is power. D) scarcity is avoidable with prosperity.
Japan
A) has significant debt problems because of a shrinking and aging population B) has avoided debt default because of purchases of debt by its own citizens and low interest rates C) has a debt to GDP ratio more than double that of the U.S. D) all of the above