Which of the following is true?
a. All types of environmental problems can be solved simply by the enforcement of individual property rights.
b. Environmental regulation cannot improve environmental quality.
c. Regulation nearly always leads to economically efficient outcomes.
d. Government regulation is subject to the same problems caused by lack of information and lack of incentives for economic efficiency that plagued centrally planned economies.
D
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The economic way of thinking should be thought of as
A) a hypothesis. B) a parable. C) a set of conclusions. D) an approach. E) a statistical procedure.
According to adaptive expectations theory, which of the following would be the result of expansionary monetary and fiscal policies?
a. There is a short-run reduction in unemployment. b. There is a long-run trade off between inflation and unemployment. c. The inflation rate falls in the long run. d. The economy always operates at the natural rate of unemployment
Natural monopolies are of theoretical, but not practical interest
a. True b. False Indicate whether the statement is true or false
Debt is to deficit as
A. money is to income. B. flow is to stock. C. rent is to dividend. D. property is to wealth.