Property rights
A) are essentially arbitrary. Therefore, rearranging them will have few effects.
B) do not really exist except in a capitalist society.
C) are a major part of the "rules of the game", which govern economic activity.
D) prevent people from cooperating in the most effective way.
E) are different from human rights.
C
You might also like to view...
Assuming a 10-percent decrease in both the nominal (money) wage and the price level in the classical model, then the quantity of labor supplied will
a. also decrease by 10 percent. b. increase by 10 percent. c. remain constant. d. decrease by less than 10 percent.
Which of the following is not a function of money?
A. Medium of exchange B. Income generation C. Standard of value D. Store of value
Mainstream economists focus on:
A. cultural and historical aspects of the market. B. the tensions among social classes. C. how the invisible hand achieves equilibrium through the market. D. political restrictions that provide rents to various groups.
The marginal productivity of capital increases with greater capital inflows into the borrowing country.
Answer the following statement true (T) or false (F)