The form of property ownership rights inherited from the colonial period was characterized by which of the following?
(a) Property ownership was almost ideal as the base for a free-market economy.
(b) Property ownership established property, including land, as a "commodity" that
could be easily bought and sold.
(c) Property ownership proved to be an excellent vehicle for economic growth.
(d) All of the above.
(d)
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A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PIwhere P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
= $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2Total fixed cost will be $6,000 next year. Suppose that income for next year is forecasted to be $9,000 instead. What is the profit-maximizing output choice for the firm?
A. 2,000 units B. 1,000 units C. 2,860 units D. 1,860 units E. none of the above
The "underground economy" is mostly made up of:
A. Unpaid work B. Illegal activities C. Do-it-yourself activities D. Tax-evasion activities
If the MPC = 0.75, the government spending multiplier would be
A) 0.25. B) -7.5. C) 4. D) 25.
Assuming the United States is the "domestic" country, if the real exchange rate between the United States and France increases from 1.5 to 1.8
A) the prices of U.S. goods and services have increased by 20% relative to France. B) the prices of U.S. goods and services have increased by 53% relative to France. C) the prices of U.S. goods and services have increased by 3% relative to France. D) the prices of U.S. goods and services have decreased by 16% relative to France.