When private ownership rights are well-defined and enforced, owners of physical assets and resources will have an incentive to do which of the following?
What will be an ideal response?
Consider the wishes of others before using their resources.
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A good or service can be consumed by a person even if he or she didn't pay for it is called ________ good
A) a private B) a public C) a normal D) an inferior E) an external
An expansionary monetary policy results in lower interest rates, which in turn
A. increases the foreign demand for U.S. financial instruments, lowering the international price of the dollar and decreasing net exports. B. reduces the foreign demand for U.S. financial instruments and reduce net exports. C. increases foreign demand for U.S. financial instruments, raising the international price of the dollar and reducing net exports. D. reduces the international price of the dollar and increases net exports.
The members of the Board of Governors of the Fed make up a majority of the Federal Open Market Committee.
Answer the following statement true (T) or false (F)
There is an increase in incomes due to a tech boom. Which of the following correctly captures the effect of this change on the market for gasoline?
A. Equilibrium quantity will increase, but equilibrium price will decrease. B. Both equilibrium quantity and price will decrease. C. Equilibrium quantity will decrease, but equilibrium price will increase. D. Both equilibrium quantity and price will increase.