Restricting access to endangered common resources assigns
A) permanent property rights to those people given permission to use the resource.
B) temporary property rights to those people given permission to use the resource.
C) property rights to no one since access has been restricted to only a select few.
D) property rights to society in general since the resource is a common resource.
B
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The law of increasing opportunity costs is a result of the fact that:
A) the value of the dollar has declined over time. B) wage rates rise as the economy reaches full employment. C) consumers tend to value a good more when they don't have much of it. D) resources are not equally productive in all output categories.
Under the European System of Central Banks, the Executive Board is similar in structure to the ________ of the Federal Reserve System
A) Board of Governors B) Federal Open Market Committee C) Federal Reserve Banks D) Federal Advisory Council