The government enforces property rights by
a. requiring property owners to pay property taxes.
b. providing police and courts.
c. forcing people to own property.
d. providing public parks and recreation facilities.
b
Economics
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Suppose that labor is mobile between sectors but that capital and land are specific. Then labor will tend to benefit from trade when:
a. it spends a large amount of its income on the imported good. b. it spends a large amount of its income on the exported good. c. wages do not change much in percentage terms. d. all of these occur.
Economics
Firms in monopolistic competition can achieve product differentiation by
A) expanding plant size. B) exploiting economies of scale in production. C) advertising special characteristics. D) setting the price equal to average revenue.
Economics