According to the authors of your text, the phrase "property rights" can be substituted with the phrase
A) "property wrongs."
B) "what people think they can get away with."
C) "animal rights."
D) "rugged individualism."
E) "free market capitalism."
B
Economics
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If the nominal money supply grows 5%, real income falls 2%, and the income elasticity of money demand is 0.8, then the inflation rate is
A) 3.0%. B) 3.4%. C) 6.6%. D) 7.0%.
Economics
Refer to the data. If product price is $45, the firm will:
A. shut down.
B. produce 4 units and realize a $120 economic profit.
C. produce 5 units and realize a $15 economic profit.
D. produce 6 units and realize a $100 economic profit.
Economics