The property rights people actually possess
A) are limited to the rights sanctioned by law.
B) are the rights they can exercise regardless of what others do.
C) are the similar rights they grant other because all rights in a society must be mutual.
D) depend heavily on the cooperation of other people.
D
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Which of the following is not a characteristic of a public good?
a. It requires resources to produce. b. It is not diminished or depreciated as additional people consume the good. c. Its benefits cannot be withheld from anyone. d. It is a free good. e. It generates value (benefits) to more than one person.
If a tax is levied on the sellers of a product, then there will be a(n)
a. downward shift of the demand curve. b. upward shift of the demand curve. c. decrease in quantity demanded. d. increase in quantity demanded.