When a society's economic institutions provide secure property ...

[plus1]

When a society's economic institutions provide secure property rights, set up a judicial system that enforces contracts and upholds the law, allow private parties to sign contracts for economic and financial transactions, and maintain relatively free
 
  entry into different businesses and occupations, the institutions in the society can be said to be:
  A) inclusive. B) extractive. C) exogenous. D) exclusive.

Question 2

The short-run effect of an increase in the supply of money is
 
  A) an increase in the price level, a decrease in real Gross Domestic Product (GDP), but an increase in nominal national income.
  B) an increase in the price level but not in real Gross Domestic Product (GDP).
  C) an increase in both real Gross Domestic Product (GDP) and the price level.
  D) an increase in real Gross Domestic Product (GDP) but not in the price level.

[Bison]

Answer to Question 1

A

Answer to Question 2

C