In which of the following examples are property rights not well established?
a. Carmen smokes a cigarette outside the door to her office building.
b. Carlita stocks shelves in a grocery store.
c. Cameron watches a movie in his home theater room.
d. Cathy docks her boat at her lake house.
a
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If buyers of a monopolistically competitive product feel the products of different sellers have little differences between them, then the demand for each seller's product is relatively elastic
Indicate whether the statement is true or false
Milton Friedman argued that there
A) are two Phillips curves, a short-run one and a long-run one. B) are three Phillips curves, a short-run one, a long-run one, and one in stagflation. C) is one Phillips curve, and it is vertical. D) is one Phillips curve, and it is nearly flat or horizontal.
In international exchange markets, a rise in interest rates in the United States will cause the demand for dollars to ________ and the supply of dollars to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Monetary policy in the United States is principally controlled by
A. the President of the United States. B. the Federal Reserve. C. the U.S. Treasury Department. D. the U.S. Senate.