If property rights are not enforced in a country,
A) entrepreneurs are unlikely to risk their own funds investing in such an economy.
B) that country's growth rate will not be affected.
C) the market system will still work smoothly.
D) that country will grow more rapidly because of the reduction of law suits.
A
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Classical economics refers to the perspective that the business cycle can be explained
A) using equilibrium analysis. B) using disequilibrium analysis. C) by long-run macroeconomic fluctuations. D) by short-run macroeconomic instability.
Which of the following reduced the effectiveness of the Fed's low interest rate policy during the aftermath of the 2008-2009 recession?
a. The heavy indebtedness of households. b. The reduction in the earnings derived from savings accounts, certificates of deposits, and other forms of savings used by many Americans. c. The increased fear of inflation fueled by the Fed's expansionary monetary policy. d. All of the above.
If a rational consumer is in equilibrium, which of the following conditions will hold true?
A. MU a = MU b = MU c = . . . = MU n . B. The marginal utility of each good purchased will be zero. C. The marginal utility of the last dollar spent on each good purchased will be the same. D. The total utility obtained from each good purchased will be the same.
Private markets will lead to a ________ vaccination rate because:
A. suboptimally low; the external benefit of being vaccinated would not fully be taken into account by decision makers. B. suboptimally high; the external cost of being vaccinated would not fully be taken into account by decision makers. C. socially optimal; price serves as a signal of marginal benefit and marginal cost. D. inequitable; health care services should not be provided based on ability to pay.