Answer to Question 1
The Coase theorem is the idea that when externalities are present, private parties can arrive at the efficient solution without government involvement under certain conditions. These three conditions are: basic rights must be clearly understood, there must be no impediments to bargaining, and only a few people can be involved. Answers will vary about applications of the Coase theorem.
Answer to Question 2
Job Gains Calm Slump Worries
This entry is a macroeconomic topic because the slump concerns a turndown in the overall economy and neither an individual nor a busi-ness makes the decision to slow the aggregate economy.
Washington Post's Profit Falls
This entry is a microeconomic topic because it concerns the profit out-come of one business, the Washington Post.
Overcapacity, Fuel Costs Hit Shipping
This entry is a microeconomic topic. It describes the situation within one sectorshippingwhich is being affected by overcapacity and a rise in the price of fuel.
Green Shoots in Greece?
This entry is a macroeconomic topic because the green shoots mean that growth in different sectors is starting to grow. It is a sign that per-haps the overall Greek economy is starting to grow.
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