A system of 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 specific government agency monitors unemployment?
A) Bureau of Labor Statistics B) Executive Branch C) State Department D) Commerce Department
An economist has estimated that the maintenance of a public park costs $25,000 a year and that the public park generates $30,000 a year in revenue for merchants near the park. From society's point of view, the maintenance of this park is
A. inefficient because the additional revenues generated by the park are so low. B. potentially efficient because no one would be made worse off as a result of maintaining the park. C. potentially efficient because the value of the gains exceed the value of the costs. D. inefficient because everyone in the community pays taxes to support the park, but only the merchants near the park benefit.