Which of the following statements about the right to private ownership is false?
A. It enables individuals to obtain, use, and dispose of land and capital resources as they see fit
B. It encourages investment and innovation, and thus fosters economic growth
C. It extends to intangibles such as pieces of music and computer programs
D. It weakens the incentive to maintain the property that one already owns
Answer: D
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We can experience a shortage of any good or service if
A) the price of using it is too high. B) the price of using it is too low. C) people demand more than they need. D) if people need more than they demand.
Ten years ago, you set aside $1,000 . For the first 6 years, you earned a return of 6 percent per year, but for the following 4 years, that rate of return dropped to 3 percent. How much money do you now have at the end of the 10 years?
What will be an ideal response?