Which of the following is an implication of the Coase Theorem?
A) Bargaining cannot lead to an efficient allocation of resources.
B) Government intervention is not always necessary to solve externality problems.
C) Negotiation leads to an efficient outcome if transaction costs are high.
D) Taxation leads to an efficient allocation of resources regardless of who holds the property rights.
B
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Suppose that the population is 275 million. Also assume that the labor force is 135 million and that 130 million people are employed. Calculate the unemployment rate
What will be an ideal response?
Which one of the following statements is MOST accurate?
A) In general, consumption demand rises by less than disposable income. B) In general, consumption demand rises by more than disposable income. C) In general, consumption demand rises by more than income. D) In general, consumption demand rises by the same amount as disposable income rises. E) In general, consumption demand rises are unrelated to disposable income rises.
Under a perfectly competitive price system
a. an equitable allocation of the available resources will always result. b. there is no opportunity for individuals to trade amongst themselves. c. there is no reason to expect that voluntary trading will result in an equitable allocation of the available resources. d. None of the above will result.
A hands-off policy of the government is termed
a. economic regulation b. antitrust c. nationalization d. creative destruction e. laissez-faire