According to this Application, clear property rights are important for economic growth, because without a clear title to property
A) no utilities will be available for the property.
B) the property cannot be used as collateral for loans.
C) people will not reside on the property.
D) the property has no value.
B
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Which of the following is not an advantage of starting a new business as a partnership?
A) The owners have complete control over the business. B) A partnership can easily attain additional funding. C) A partnership has few government rules and regulations to comply with. D) Business profits are only taxed once, not twice.
In many communities across the country it is very difficult for firms to hire sufficient numbers of entry level workers. If firms do not wish to raise money wages, what else might they do to attract workers?
Refer to the above graph. It shows a profit-maximizing, purely competitive firm operating in the short run. Which area in the graph represents the amount of economic loss for the firm?
A. abef B. acdf C. bcde D. 0beg
Cross-price elasticity of demand is defined as the:
A. percentage change in demand divided by percentage change in the price of another good. B. change in the price of another good divided by the change in quantity demanded. C. percentage change in quantity demanded divided by percentage change in the price of the same good. D. percentage change in the price of another good divided by the percentage change in quantity demanded.