The tolerance of bribe-taking by government officials
A. reduces the need for government to impose taxes on poor people.
B. reduces government expenditures because public employees can be paid less.
C. reduces economic efficiency because rules governing property rights are not regularly enforced.
D. reduces economic uncertainty because all investors are aware of the practice.
Answer: C
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Over-the-counter (OTC) markets:
A. are centralized exchanges but you must be a dealer to be part of an exchange. B. only deal in the stocks of companies with over $100 million in capital. C. employ specialists to minimize price volatility. D. are networks of security dealers linked electronically.
The products in a monopolistically competitive industry are:
A. heterogeneous. B. competitive. C. homogeneous. D. uncompetitive.
In December 2009, currency was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,00 billion, time deposits were $1,500 billion; and money market funds
were $1,200 billion. What was the M1 in December 2009? A) M1 = $405 billion B) M1 = $1,005 billion C) M1 = $3,005 billion D) M1 = $3,500 billion E) M1 = $3,505 billion
Property rights and territorial hunting rights:
a. had little bearing on the depletion of the beaver in 1700s. b. were lacking and thereby crucial to depletion of the beaver in the 1700s. c. could have provided incentives against overharvest of the beaver in the 1700s d. Both b and c are correct. e. None of the above are correct.