Poorly Defined Property Rights Imply That _____

question 22

Multiple Choice

Poorly defined property rights imply that _____.

• A)people can play their music as loud as they would like
• B)profit opportunities exist for entrepreneurs
• C)a Pareto optimum is still easily achieved
• D)people may be able to use resources without paying for them

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Definitions:

Months

Periods into which a year is divided, each consisting of roughly 30 to 31 days, except for February which has 28 or 29 days.

Compounded Monthly

Interest that is calculated on the principal and the accumulated interest of previous periods on a monthly basis.

Loan

Money lent to a borrower, which is expected to be paid back with interest.

Interest Rate

The fraction of a loan billed as interest to the borrower, commonly expressed as a yearly percentage of the remaining loan amount.