By examining the data on the 18th century market for beaver furs, we learn an important economic lesson: Intense and growing competition in the absence of appropriate ____________ fails
a. property rights
b. government controls
c. price ceilings
d. tort laws
a. property rights
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Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
Tiebout local public good provision is more easily implemented than a Lindahl equilibrium -- because people know each other's tastes locally and can more easily come up with the right way to divide the cost for public goods.
Answer the following statement true (T) or false (F)
The equation of exchange is a(n)
a. identity relating the volume of transactions at current prices to the stock of money times the turnover rate of each dollar. b. "truism" and by itself does not explain the variables it contains. c. identity relating the volume of transactions at base year prices to the stock of money times the turnover rate of each dollar. d. Both a and b e. Both b and c
Government mandating that every driver have a minimum amount of car insurance addresses the problem of:
A. moral hazard. B. illegal screening. C. adverse selection. D. statistical discrimination.