Private property rights do not conflict with human rights. They are human rights. Private property rights are the rights of humans to use specified goods and to exchange them. Any restraint on private property rights shifts the balance of power from impersonal attributes toward personal attributes and toward behavior that political authorities approve. That is a fundamental reason for preference of a system of strong private property rights: private property rights protect individual liberty. Armen A. Alchian is an emeritus professor of economics at the University of California, Los Angeles. Most of his major scientific contributions are in the economics of property rights. Which of the following are a violation of a person's property rights: 900 Government using eminent domain laws to force the sale of property Zoning laws which prevent commercial buildings to be built in residential neighborhoods Regulations which prevent loud exhausts on automobiles Affordable housing laws which require apartment owners to rent 10% of their apartments to low income renters A 2% annual property tax on your house Rent control laws which prevent landlords from raising rents

What factors determine whether a particular economic issue can be adequately analyzed by using a partial rather than a general equilibrium approach?

Suppose Fischer Pond is a common-property resource—anyone can fish without having to pay for access. Locke Lake is privately owned—people who want to fish must purchase one of a limited number of permits from the lake's owner each season. According to the incentives that private ownership creates, which of the following would you expect to happen?     Check all that apply. The owner of Locke Lake is likely to keep the lake clean and unpolluted.   The owner of Locke Lake is likely to limit the number of fishing permits in order to maintain a plentiful stock of fish.   Fischer Pond is less likely to experience a dwindling stock of fish each season.

According to public choice theory, policymakers   Group of answer choices place the interests of the public above their own self-interest. are likely to pursue their own self-interest, even if their self-interest conflicts with the public interest. act in ways to maximize economic efficiency. act in ways to bring about an equitable distribution of society's wealth.