The Coase Theorem states that there is different ways to assign property rights if the private sector is to achieve environmental efficiency

What's meant by the NAIRU (Natural Rate of Unemployment)?

A. It is the full-employment unemployment rate B. It is the unemployment rate at which there is only frictional and structural unemployment C. it is the unemployment rate at which the labor market has fully adjusted D. all of the above

The price of crude oil increased to $100 per barrel in early 2008. What would we expect to see happen to the supply of gasoline, which is produced using crude oil?

A) The supply of gasoline will increase. B) The supply of gasoline will decrease. C) The supply of gasoline will stay the same because the government requires gasoline producers to meet statutory minimum production levels. D) The supply of gasoline will stay the same because of the profit motives of gasoline producers.