Given your knowledge of the incentives created by private ownership, which of the following would you expect to be false?
a. People will take better care of their own personal automobile than they will a rental car.
b. People will take better care of a home they own than they will of a home they rent.
c. Property owned privately will tend to be better conserved and kept than public property or property owned in common.
d. People will be more likely to throw trash out onto their own lawn than they will be to throw it out onto the side of an interstate highway.
D
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The process by which inputs are transformed to outputs is referred to as:
A) production. B) distribution. C) depreciation. D) absorption.
Early Keynesians concluded that changes in monetary policy had no impact on aggregate output because early empirical studies found no linkage between movements in ________ and ________
A) nominal interest rates; investment spending B) real interest rates; investment spending C) money supply; aggregate output D) investment spending; aggregate output