What are property rights?
A) the title to ownership of any physical asset
B) the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it
C) a legal document verifying ownership of intangible assets
D) the right of the government to appropriate private assets for the good of society
B) the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it
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Refer to the figure above. If the engineer spends his entire time producing computer programs, how many computer programs can he produce?
A) 12 B) 30 C) 45 D) 50
Personal saving
a. equals national income less personal consumption expenditures. b. is personal disposable income minus consumption expenditures. c. is the value of stocks and bonds. d. equals personal income minus taxes. e. is personal disposable income less personal taxes.