The Coase theorem says that, if the appropriate property right is assigned to ____, an efficient solution to an externality problem will be achieved
a. the party causing the externality
b. the victim of the externality
c. the party that can avoid the externality at the higher cost
d. either one of the parties involved
d
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The table above gives the labor market for a small foreign economy. Equilibrium in the labor market occurs at a real wage rate of
A) $7.15 per hour. B) $8.50 per hour. C) $9.00 per hour. D) $7.65 per hour. E) $8.00 per hour.
In Figure 4.4, supply elasticity is zero in graph:
A. A. B. B. C. C. D. D.
What are some measurement issues involved in accurately measuring poverty?
What will be an ideal response?
The gap between rich and poor countries
A. has decreased over time because poor countries can more easily devote resources to capital production. B. has increased over time because poor countries find it difficult to devote resources to capital production. C. has remained constant over time because the rate of capital production has remained constant in rich and poor nations. D. has remained constant over time because technological advances can be easily shared among nations.