If demand for lima beans is inelastic, a poor lima bean harvest could increase the total revenue of lima bean producers
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Property rights can be defined and enforced
a. only by the government b. only by ethical norms c. by the government and by ethical norms d. only through constant renegotiation e. by government, by informal social actions, and by ethical norms
Economics
Joe has broken the mirror of my car. I have legal recourse to sue for damages because of
A) social costs. B) transactions costs. C) common property rights. D) private property rights.
Economics
Explain three ways we can use microeconomic analysis
What will be an ideal response?
Economics
In 2011, which country had the highest level of GDP per hour of work?
a. Spain b. the United Kingdom c. France d. Japan
Economics