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Of the following, which are institutions that would foster economic growth?

a. price controls

b. efficient taxes

c. stable monetary system

d. political stability

e. natural resources

f. open markets

g. private property rights

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Sonia Dhawan
Sonia DhawanLv10
26 Jan 2021
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Related questions

Countries that enjoy economic growth:

a. place high taxes on saving and investment.

b. have property rights and markets which provide incentives for discovering new technologies.

c. have economies that allow the government to make decisions in everyone's best interests.

d. place controls on property rights so that firms are protected from competition.

e. restrict international trade so that domestic industries can grow.

Ā 

The structure of property rights can determine how natural resources are used. In general, economists argue that private property rights regimes are more likely lead to an efficient allocation of the resource. However, private property rights are difficult to achieve with some resources and other property rights systems either naturally emerge or, due to the absence of private property, take precedence.

(A) What are the characteristics of private property and why do economists believe these characteristics lead to efficient allocation of the resource?

(B)Can you think of actual situations where private property rights are bounded (limited) by the government or other stakeholders who may have an interest in how private property is used? Why have these situations arisen and what might be the implication for how the resource in question gets used?

(C)What are the other property rights systems we have discussed in class?

(D)Describe actual situations where these types of property rights systems exist.

Which of the following is a true statement about a command-based economic system:

a. a command-based economic system is characterized by centralized decision-making.

b. command-based economic systems are characterized by private property rights.

c. the government in a command-based economic system is only responsible for addressing market failures and enforcing contracts.

d. markets in a command-based economic system are responsible for making production decisions.

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