Which of the following is a significant barrier to reducing the damage people do to one another's environment?
A) Low negotiation costs among people
B) Property rights clearly assigned to specific persons
C) Scarcity of public or common property relative to private property
D) All of them.
E) None of them.
E
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The OPEC crisis caused the aggregate demand curve to shift to the left
Indicate whether the statement is true or false
Total revenue minus both explicit and implicit costs defines a firm's:
A. profit. B. net worth. C. gross earnings. D. marginal earnings.
An information cascade occurs when:
A) the buyer of a good has more information than the seller and takes hidden actions. B) the seller of a good has more information about the hidden characteristics of the good. C) people make the same decisions as others without focusing on private information. D) people have contradictory information about a good they want to consume.
An implication of the Employment Act of 1946 is that the government should respond to changes in the private economy to stabilize aggregate demand
a. True b. False Indicate whether the statement is true or false