The term "property rights" refers to
A) the physical possession of a house or any other property which the owner legally purchased.
B) the ability to exercise control over one's own resources within the confines of the law.
C) the right of a business not to have its assets confiscated by the government in the event that the business is accused of committing fraud.
D) the government's right to appropriate land from wealthy land owners to redistribute to peasants.
B
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A change in quantity supplied of a product is the result of a change in
A) the price of the product. B) consumer income. C) the cost of producing the product. D) the state of production technology.
Suggest two policies the government could pursue to help increase the accumulation of knowledge
What will be an ideal response?
The slope of the total production curve becomes:
A. steeper when marginal product decreases. B. flatter when marginal product decreases. C. negative when marginal product decreases. D. None of these is true.
Major economies around the world, such as the U.S. and Great Britain, are largely independent of one another, and thus their economic fluctuations bear little relationship to one another
Indicate whether the statement is true or false