private property rights
What will be an ideal response?
-The right to exclusive use of the property
-Legal protection against invasion from other individuals
-The right to sell, transfer, exchange, or mortgage the property
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Which of the following would be an asset on a consolidated balance sheet for a commercial bank?
a. Checkable deposits b. Time and savings deposits c. Reserves held on deposit at the Federal Reserve d. Borrowing from the Federal Reserve
Every five? years, the Bureau of Economic Analysis? (BEA) revises past GDP figures and the methodology involved in computing national income. In June? 2013, the BEA decided to increase the weighting given to the creation of intellectual property in the national income accounts. This means that the intellectual property involved in the creation of? books, movies,? photographs, and even greeting cards will be included in GDP.? Moreover, the initial cost of producing intellectual property will be treated as a capital investment and future flows of revenue from the book or TV show will be added later on. What are the possible difficulties that the BEA could face with this new? approach?
A. Identifying the qualifying expenditures that lead to the creation of the intellectual property. B. Deciding how broadly or narrowly to define the concept of intellectual property. C. Separating the effect of intellectual property on growth and productivity from the effect of real tangible assets. D. All of the above. E. A and B only.
The best weather in a decade has given Australia a bumper wheat crop. Australia is a small open economy. Based on this information alone, you would expect that
A. the current account would decrease. B. the current account would increase. C. desired investment would increase. D. desired investment would decrease.
Refer to the graph. Other things equal, an increase in the price of substitute resource would cause a:
A. shift from D 2 to D 3 assuming the substitution effect exceeds the output effect.
B. move from a to b on D 1 .
C. move from b to a on D 1 .
D. shift from D 3 to D 2 assuming the substitution effect exceeds the output effect.