In the absence of property rights, inventors have ________ incentive to invest in innovations and ________ incentive to disclose how to use and make their innovations.
A) less; less
B) more; less
C) more; more
D) less; more
A) less; less
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Refer to Table 2.3. Nominal GDP in 2010 is
A) $540.00. B) $568.00. C) $671.00. D) $812.00.
What was the most immediate impact of introducing the horse to the plains Indians?
a. A decrease in the amount of agricultural work the Indians did b. A large increase in the size of hunting groups c. More intensive and more efficient use of animal carcasses. d. More time was spent in fixed locations
In an economy in which decisions are guided by prices and individual self-interest, there is
a. the potential to achieve efficiency in production. b. a strong need for government intervention in the market. c. less efficiency than would be observed in a centrally-planned economy. d. more need for a strong legal system to control individual greed than would be needed in a centrally-planned economy.
According to the above table, the value of the MPC is
A. 0.7. B. 0.1. C. 0.5. D. 0.9.