Private property rights are
A. a social cost.
B. an externality.
C. exclusive rights of ownership.
D. property that is owned by everyone and therefore by no one.
Answer: C
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On a straight-line production possibilities frontier, which of the following is true?
a. The problem of scarcity does not exist. b. Resources are imperfect substitutes. c. Opportunity costs are constant. d. Technology is rapidly expanding. e. Some resources are not being used efficiently.
When taxes alter individual behavior as people attempt to avoid the tax, efficiency
a. losses are probable. b. gains are possible. c. gains are impossible. d. losses are impossible.
Which of the following statements about positive analysis is? correct?
A. Positive analysis is concerned with what ought to be.
B. Positive analysis can be used to determine whether policies are good or bad.
C. Positive analysis is concerned with what is.
D. Positive analysis involves value judgments.
Globalization has made economies of scope:
A. less important to firms because global corporations can segment the production process. B. less important to firms because global corporations do not have to segment the production process. C. more important to firms because global corporations can segment the production process. D. more important to firms because global corporations do not have to segment the production process.