With the Coase theorem, the private solution yields:
A. a more efficient outcome than a government solution would.
B. a less efficient outcome than a government solution would.
C. the same amount of efficiency a government solution would.
D. None of these statements is true.
C. the same amount of efficiency a government solution would.
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If a tax is imposed per unit of a good sold, ________
A) the supply curve for the good shifts to the right B) the supply curve for the good shifts to the left C) the demand curve for the good shifts to the right D) the demand curve for the good shifts to the left
If buyers compete against sellers, then
A) buyers would be worse off as more sellers enter the market. B) buyers would be better off with fewer sellers in the market. C) sellers would be worse off with more buyers for their products. D) sellers would be better off with fewer buyers of their products. E) all the above are true.
In the United States, most periods of very high inflation occurred
A) during times of war. B) during recessions. C) in the past 25 years. D) before the year 1800.
All mutually beneficial trades have taken place. This implies that
A. economic efficiency prevails in the society. B. society is on the constant cost portion of its production possibilities curve. C. the production possibilities curve is bowed out. D. society is inside the production possibilities curve.