If Property Rights Are Enforced and Contracts in Trade Are

question 3

Multiple Choice

If property rights are enforced and contracts in trade are legally respected, it is usually assumed that:

• A) output will begin to fall.
• B) investment will be encouraged.
• C) transactions costs will rise.
• D) government is unnecessary.

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Definitions:

Statistic

A numerical value that describes or summarizes some aspect of a set of data.

Distribution

The way in which values in a dataset are spread out or clustered across a range.

Variability

Variability is a statistical concept that describes the extent to which data points in a data set differ from each other and from the average or mean value of the set.

Measure

A tool or instrument used to quantitatively assess or determine the extent, dimensions, quantity, or capacity of something.