Property law
a. helps to ensure that only voluntary exchanges occur
b. tends to decrease the level of economic efficiency
c. helps define ownership rights to resources
d. establishes property taxes
e. helps to distribute government property
C
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If the stock price of a company is higher than the discounted value of its future earnings,
a. Buy the stock only if the company has a sustained competitive advantage b. Don't buy the stock, even if the company has a sustained competitive advantage c. Always buy the stock d. None of the above
Which of the following is most likely to reduce a federal budget surplus?
A. Lower inflation and lower unemployment rates. B. A booming economy with rising inflation rates. C. A recession. D. Higher inflation and higher unemployment rates.