Which of the following would empirically support the claim that slave owners were optimistic about the future of the slave system in the 1850s?
(a) Rising slave prices
(b) An increasing demand for slaves
(c) A positive net return to slave purchases
(d) All of the above
(d)
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Suppose the economy is producing at the natural rate of output. A decrease in consumer and business confidence will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
A firm that can borrow from a bank any amount it wishes up to a certain limit, and at any time up to a certain date, is said to have a
A) repurchase agreement. B) trade credit. C) a line of credit. D) internal financing.
According to the Coase theorem, in the presence of externalities
a. private parties can bargain to reach an efficient outcome. b. government assistance is necessary to reach an efficient outcome. c. the assignment of legal rights can prevent externalities. d. the initial distribution of property rights will determine the efficient outcome.
The answer is, "Because of the free rider problem." The question is:
A) Why can't the government produce nonexcludable public goods? B) Why can't the market produce nonexcludable public goods? C) Why do negative externalities exist? D) Why do positive externalities exist? E) b and d