The U.S. current account deficit improved slightly from 2007 to 2010 because
A) spending on imports fell due to an overall fall in consumption.
B) state, local, and federal government budget deficits increased.
C) worldwide economic growth spurred U.S. exports.
D) capital controls restricted capital inflow.
A
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According to the Coase theorem, which of the following are necessary for the efficient levels of pollution to be achieved? I. Property rights are defined. II. Transactions costs are low
A) I only B) II only C) both I and II D) neither I nor II
In the principal-agent relationship, the principal is
A) the person who is placed in control over resources that are not his own and agrees to compensate the resource owner in the event of outcomes that do not satisfy the resource owner. B) the person who places his resources in professional hands in exchange for the professional's promise to act on the resource owner's behalf. C) the owner of a resource that has hired a third party to act in the best interest of that third party. D) the person who is placed in control over resources that are not his own, with a contractual obligation to use these resources in the interests of some other party.