Which of the following is the best example of a market failure to conserve a resource resulting from poorly-defined property rights?
A. Preserving elephants in Africa
B. Drilling for oil in Saudi Arabia
C. Mining of oil shale in Canada
D. Hunting of deer in the United States
A. Preserving elephants in Africa
Economics
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If at the prevailing real wage rate, the quantity of labor supplied exceeds the quantity demanded
A) there is a shortage of labor. B) the real wage rate will rise to restore equilibrium. C) the real wage rate is greater than the equilibrium real wage rate. D) None of the above answers is correct.
Economics
Everything else held constant, when a country's currency appreciates, the country's goods abroad become ________ expensive and foreign goods in that country become ________ expensive
A) more; less B) more; more C) less; less D) less; more
Economics