Common property is
A. a resource that everyone is free to use as much as they want.
B. generic property as opposed to specific property.
C. property owned by a group such as a club or a church.
D. property that belongs to both spouses in a marriage.
Answer: A
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With fixed exchange rates, an increase in the foreign inflation rate, with constant income and domestic credit, will lead to
A) a change in the exchange rate. B) an increase in international reserves. C) a decrease in international reserves. D) no change in international reserves.
If average incomes of a nation don't rise over time:
A. improvements in health are impossible. B. improvements in health are still possible. C. improvements in health are still very likely. D. it will have no impact on the nation's ability to improve health.
A demand curve
A) slopes down because of the inverse relationship between price and quantity demanded. B) slopes up because of the direct relationship between price and quantity demanded. C) can slope up or down depending on the tastes of the consumer. D) is vertical for necessities, upward sloping for luxury goods, and downward sloping for all other goods.
Cab drivers operating from JFK Airport to the City of New York legally must charge a specific fare. This is an example of
A) social regulation. B) economic regulation. C) the market share test. D) the rate of return test.