Leaving open-access resources open to all people but restricting the intensity of the use of the resources assigns
A) permanent property rights to the government.
B) temporary property rights to those people given permission to use the resource.
C) property rights to no one since the intensity of the use of the resource has been restricted.
D) property rights to everyone since the resource is available to be used by everyone.
D
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Suppose that country A pegs its currency to that of country B. Now suppose that there is an adverse demand shock in country A. Country B is more likely to cooperate and increase its money supply in response to country A's adverse demand shock when:
A) country B's output is below its preferred level. B) country B is experiencing high rates of inflation. C) country B wants country A to devalue its currency. D) country A is experiencing high rates of inflation.
Describe the differences between capitalism and socialism