Which of the following do private property rights involve?
What will be an ideal response?
The right to exclusive use of the property.
b. Legal protection against those who would seek to use or abuse the property without the owner's permission.
c. The right to transfer, sell, exchange, or mortgage the property.
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Which of the following will NOT work to increase the rate of economic growth?
A) increase saving B) limit competition from international trade C) improve the quality of education D) All of the above will work to increase the rate of economic growth.
Refer to Table 2-2. Assume Nadia's Neckware only produces ascots and bowties. A combination of 24 ascots and 12 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
Economic theory asserts that:
a. both implicit costs and explicit costs are relevant in decision making. b. only implicit costs are relevant in decision making. c. only explicit costs are relevant in decision making. d. a cost to be incurred in the future should count more heavily than a cost incurred today
Demand-pull inflation is associated with a(n):
A. increase in aggregate supply. B. increase in aggregate demand. C. decrease in aggregate supply. D. decrease in aggregate demand.