When property rights are clearly defined, there is generally a
A) law that must be passed to ensure fairness.
B) regulatory agency that handles externalities.
C) common property problem.
D) voluntary agreement that can be reached.
D
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The sum of the value added by all firms equals total:
A. investment spending. B. spending on capital goods. C. value of final goods and services. D. profits.
A wealthy Japanese executive decides to buy a large amount of U.S. assets. This would contribute to
a. a deficit in the U.S. current account b. a deficit in the U.S. capital account c. a surplus in the U.S. current account d. a surplus in the U.S. capital account e. a deficit in the total balance of payments
There are thousands of broadband internet providers in the country, while in a particular city the only way you can get it is through the phone, the cable company, or through DIRECTV. The best model to analyze this market is
A. monopoly. B. oligopoly. C. perfect competition. D. monopolistic competition.
If the market for used computers has only lemons (low-quality computers) then the market:
A. is an example of a thick market. B. suffers from an adverse selection problem. C. is a type of monopoly. D. must be monopolistically competitive.