Secure rights to land provided colonists with incentive to use the land productively, conserve it and invest in it
Indicate whether the statement is true or false
True
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You have the choice of going on vacation to Florida for one week, staying at work for the week, or spending the week doing fix-up projects around your house. If you decide to go to Florida, the opportunity cost of the trip is
A) working and doing fix-up projects. B) working or doing fix-up projects, depending on which you would have done otherwise. C) working, because you would be giving up income. D) nothing because you will enjoy the trip to Florida.
In the United States, out-of-pocket spending on health care is about ________ percent of all health care spending
A) 2 B) 12 C) 33 D) 48
Progressive Insurance's 'Tripsense' monitors driving patterns of the people who purchase the related insurance policy. This lowers insurance costs because
a. only more reckless drivers will accept the device b. drivers will want to drive more carefully knowing they are being monitored c. drivers will believe they can now drive more recklessly d. it does not affect care in driving
Which of the following best explains an economic criticism of unregulated monopolists?
a. Monopolists do not try to minimize their costs of production. b. Monopolists produce where marginal revenue is greater than marginal costs. c. Monopolists attempt to produce too many products, and as a result, their prices are high, and consumer's waste time trying to choose between too many options. d. Monopolists restrict output, and as a result, they fail to produce units that are valued more than the marginal cost of producing them.