Author Question: The Coase theorem says that, if the appropriate property right is assigned to ____, an efficient ... (Read 56 times)

jlmhmf · **on:** Jun 30, 2018

The Coase theorem says that, if the appropriate property right is assigned to ____, an efficient solution to an externality problem will be achieved.
a. the party causing the externality
b. the victim of the externality
c. the party that can avoid the externality at the higher cost
d. either one of the parties involved

Question 2

The aggregate output demanded for a given price level occurs at the point where:
a. an economy reaches the full employment of labor.
b. aggregate expenditure equals real GDP.
c. actual aggregate expenditures exceeds real GDP.
d. inventories of goods and services are increasing.
e. inventories of goods and services are decreasing.