When the Dallas Cowboys decided on Arlington, Texas as the home for their new stadium in 2005, the City of Arlington used eminent domain to acquire property from individuals who were either unwilling to sell or demanded what the city deemed were
unreasonable prices for their property. In this situation, eminent domain A) reduced transactions costs.
B) solved the holdout problem.
C) accelerated the process of getting the stadium built.
D) all of the above
D
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The collapse of the subprime mortgage market increased the spread between Baa and default-free U.S. Treasury bonds. This is due to
A) a reduction in risk. B) a reduction in maturity. C) a flight to quality. D) a flight to liquidity.
Simon Kuznets's research in his National Income and Its Composition showed that
a. Keynes's absolute income hypothesis is empirically correct b. budget deficits crowd out consumption spending c. a nation's MPC tends to remain fairly constant regardless of the absolute level of national income d. as national income increases, consumption spending increases, but by diminishing amounts e. consumption and income cannot be linked in any meaningful fashion