Eminent domain _____
a. is when government forces holdouts to sell
b. can be used by special interest for public gain
c. is the only way to solve the holdout problem
d. a and b
e. b and c
d
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When Haley states that inflation by itself always reduces the real return on her saving, she
a. has expressed the idea of the inflation tax. b. has expressed the idea behind menu costs. c. has committed the inflation fallacy. d. has expressed the idea behind shoeleather costs.
Which of the following statements about self-interest in a market system is false?
A. Self-interest usually motivates an individual to deliver something of value to others B. Self-interest of entrepreneurs implies seeking maximum profits or minimum losses C. Self-interest applies only to capitalists and entrepreneurs, not to workers employed by others D. In a market system, consumers are just like firms: self-interest is what motivates them