Governments can grant private property rights over resources that were previously viewed as public, such as fish or elephants. Why would governments want to do so?
a. to prevent overuse
b. to decrease taxes
c. to fight poverty
d. to increase consumption
a
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Theory seeks to
a. simplify a complex reality b. confront reality in all its complexity by focusing on the unique aspects of each phenomenon c. explain phenomena without predicting them d. predict phenomena without explaining them e. distort reality in order to improve forecasting ability
Which of the following will most likely cause a nation's currency to appreciate on the foreign exchange market?
a. A decrease in domestic interest rates b. An increase in foreign interest rates c. Domestic inflation of 10 percent while the nation's trading partners are experiencing stable prices d. Stable domestic prices while the nation's trading partners are experiencing 10 percent inflation