The Coase theorem implies that an efficient solution is possible ...

[joblessjake]

The Coase theorem implies that an efficient solution is possible only if property rights are well-defined and transactions costs are low.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is true?
 a. Inflation and unemployment rates can both increase in the short run in response to negative supply shocks.
  b. Inflation and unemployment rates cannot both decrease in the short run in response to reduced aggregate demand.
  c. Inflation and unemployment rates can both decrease in the short run in response to positive supply shocks.
  d. All of the above are true.

[recede]

Answer to Question 1

True

Answer to Question 2

d