Which did not cause significant navigation problems on inland waterways?
a. ice
b. variations in the heights of rivers
c. sand bars
d. sunken ships
e. inland piracy
e. inland piracy
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The proposition that policy actions have no real effects in the short run if the policy actions are anticipated is known as
A) the policy irrelevance proposition. B) the Keynesian proposition. C) the inflation stabilization proposition. D) the unemployment stabilization proposition.
A social system in which rights are clearly defined and participants are free to exchange as they choose will tend to allocate resources to
A) their most efficient uses. B) their most highly valued uses. C) uses on which the highest monetary value is placed. D) uses which maximize social welfare. E) uses which produce the greatest good for the greatest member.
If a bond's rating improves it should cause the bond's price:
A. and yield to decrease, all other factors constant. B. and yield to increase, all other factors constant. C. to increase and its yield to decrease, all other factors constant. D. to decrease and its yield to increase, all other factors constant.
If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line. B. negatively sloped and "bowed inward" toward the origin. C. negatively sloped and "bowed outward" from the origin. D. a positively sloped straight line.