If property rights are not clearly defined and enforced, then
A) incentives for specialization based on comparative advantage are weakened.
B) some potential gains from specialization and trade are lost.
C) resources are devoted to protecting possessions rather than to production.
D) All of the above answers are correct.
D
Economics
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Refer to the figure above. What is the initial equilibrium employment and wage rate?
A) 10 units of labor and $25 B) 20 units of labor and $25 C) 30 units of labor and $15 D) 10 units of labor and $35
Economics
What are some of the forms that central planning has taken in developing nations today?
What will be an ideal response?
Economics