The Proposition That Private Parties with Clearly Defined Property Rights

question 180

Multiple Choice

The proposition that private parties with clearly defined property rights and low transaction costs can resolve externalities problems on their own is called the:

• A) voluntary tax theorem.
• B) Bee theorem.
• C) Coase theorem.
• D) transaction cost theorem.

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A term describing the average, working-class individuals, especially those living in rural areas or small towns, emphasizing their simplicity and honesty.

Historical Significance

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