Government intervention will not be necessary when voluntary contracting internalizes an externality. Which of the following is NOT a necessary condition for this to occur?
A) well-defined private property rights
B) low transaction costs
C) large numbers of individuals involved in the transactions
D) low contract enforcement costs
C
Economics
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Reparations for slavery in the United States would
A) be consistent with the Pareto principle. B) be inconsistent with the Pareto principle. C) have nothing to do with the Pareto principle. D) be unconstitutional.
Economics
Growth in potential GDP in the United States from 1949 to 2017 was estimated to be about
A) 8.25% per year. B) 5.0% per year. C) 3.2% per year. D) 1.5% per year.
Economics