Property rights can be defined and enforced
a. only by the government
b. only by ethical norms
c. by the government and by ethical norms
d. only through constant renegotiation
e. by government, by informal social actions, and by ethical norms
E
Economics
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In the long run, a decrease in the price level: a. leaves output prices unchanged relative to input prices. b. decreases the profit margins of many producers
c. decreases RGDP supplied. d. Does none of the above
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Earnings of some highly skilled or highly specialized persons can be classified as economic rents
a. True b. False Indicate whether the statement is true or false
Economics