Secure property rights promote economic progress because they
a. encourage individuals to produce efficiently and undertake productive activities.
b. weaken the incentive to take actions that increase the value of resources.
c. transfer the costs of a decline in property value to the government.
d. discourage property owners from engaging in activities that provide value to others.
a. encourage individuals to produce efficiently and undertake productive activities.
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Which of the following statements is CORRECT?
A) The United States produces more goods than services. B) The United States produces more services than goods. C) The United States produces more agricultural goods than manufactured goods. D) The United States produces an equal amount of goods and services.
How can specializing in lending help to reduce the adverse selection problem in lending?
What will be an ideal response?
What condition has been reached when buyers will purchase exactly as much as sellers are willing to sell?
a. supply and demand b. excess demand c. equilibrium d. price floor
One problem with the infant industry argument is that
A. it fails to protect domestic industries from foreign competition. B. it must be approved by the Federal Reserve Board. C. it must be approved by the IMF and the World Bank. D. the protection is typically never removed, creating a domestic monopoly.