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Many people in Peru squat on land that they do not own--often it is owned by the government. One day, the Peruvian government decides to give the squatters the land, even providing them titles (i.e. the government gives the property to the people with a piece of paper that proves they own it). Which of the following is consistent with predictions from the theory of property rights and investment?People will stop buying nice things for the housePeople will rent their home to strangersFamilies will keep someone home at all times to watch the propertyOnly people with friends in politics will build homes
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