Property owned by everyone is generally referred to as
A) social property.
B) free property.
C) common property.
D) natural property.
Answer: C
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In the above figure, if household consumption is positively related to household income, then an increase in household income will
A) shift the line rightward. B) shift the line leftward. C) make the line positively sloped. D) cause a movement along the line.
The most plausible way to produce a continuous increase in the standard of living within the Solow growth model is to assume
A) continuous technological improvement. B) a positive rate of population growth. C) a zero rate of depreciation. D) continuous increases in the national saving rate. E) continuous growth in the capital stock.
The offsetting effect of private saving compared to __________ borrowing is much less than one-to-one.
a. private b. government c. corporate d. international
The demand curve for a perfectly competitive firm is horizontal because
A) consumers are willing to pay any price to obtain its product. B) its production decisions cannot influence the market price. C) the firm profits from setting its price higher than the market price. D) its product is easy for consumers to differentiate from those of other firms.