List three ways government can reduce depletion of an endangered resource. Which of these ways requires the least amount of management, monitoring, and bureaucracy?
What will be an ideal response?
Government can restrict access to the resource, it can leave access open but restrict the intensity of its use, and it can assign absolute property rights to the resource. Assigning absolute property rights requires the least amount of management, monitoring, and bureaucracy.
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Which of the following parties is likely to have the most information about the health of an individual who is trying to purchase health insurance?
A) the individual who is trying to purchase the policy B) the employer of the individual C) the health insurance company D) All parties in the health insurance market have access to the same amount of information.
Monetarists argue that an exogenous increase in investment spending is likely to be offset by a decrease in
A) the money supply. B) interest rates. C) government spending. D) consumption.