For resources whose property rights are not well-defined or well-enforced,
A) people have an incentive to acquire as much of the resource as possible for themselves before someone else does.
B) people have no incentive to acquire the resource since they do not have the property rights to that resource.
C) people have little incentive to acquire the resource because if the the property rights are not well-defined or well-enforced, they are most likely of little value.
D) people have an incentive to acquire a limited amount of that resource for personal use, but no more than they can use personally.
A
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A) 0.1. B) 2. C) 9. D) 10.
Which rationing system leads to the most efficient use of available resources?
A) free market B) physical force C) first come, first served D) random assignment
In the long run, _________ growth is the most important factor in shifting the AS curve.
a. consumption b. productivity c. savings d. population
The price-corrected value for Gross Domestic Product is
A. per capita income. B. real Gross Domestic Product (GDP). C. net national product. D. net Gross Domestic Product (GDP).