According to the Coase theorem, part of what is needed for private transactions to be efficient is that property rights
A) must be defined, but it does not matter who owns the property.
B) must be defined, and it is crucial as to who owns the property.
C) need not be defined as long as there are no transactions costs present.
D) need to be defined by the government to avoid producers from exploiting high transactions costs.
A
Economics
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In the United States in 2014, a majority of people received health care through
A) Medicaid. B) their employers. C) individually purchased insurance policies. D) Medicare.
Economics
If a bank has $100,000 of checkable deposits, a required reserve ratio of 20 percent, and it holds $40,000 in reserves, then the maximum deposit outflow it can sustain without altering its balance sheet is
A) $30,000. B) $25,000. C) $20,000. D) $10,000.
Economics