A system of private property rights
A) encourages economic growth by creating incentives to invest in capital and to be innovative.
B) discourages economic growth by discouraging the development of new ideas and ways of doing things.
C) reduces the efficiency of government, which reduces the growth rate of the economy over time.
D) encourages investment but discourages entrepreneurial activity, so the effect on economic growth is uncertain.
A
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Which of the following factors is likely to lead to an increase in the quantity demanded of pens?
A) A fall in the price of paper B) A fall in the incomes of all consumers C) A rise in the incomes of all consumers D) A fall in the price of pens
Government ownership of monopoly industries is termed
a. economic regulation b. antitrust c. nationalization d. creative destruction e. rule of reason