An important feature of representative democracy is the incentive and political power it offers participants to employ legislation to increase their wealth, either through direct transfers or through favorable public expenditures and regulations. Such benefits are called ________ , and the activity that interest groups undertake to elicit these special favors is called ________
a. taxes; tax-seeking
b. dividends; portfolio management
c. rents; rent-seeking
d. interest; investment
c
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Phillip is a 22-year old who has no job and is available for work, but has not actively looked for a job in the last month
The Current Population Survey identifies Phillip as ________, ________ the labor force, and ________ the working-age population. A) unemployed; part of; part of B) unemployed; part of; not part of C) not unemployed; not part of; part of D) not unemployed; not part of; not part of E) not unemployed; part of; part of
Declines in business inventories enter national income accounts: a. negatively in the consumption category. b. negatively in the investment category. c. negatively in the net export category
d. positively in the profits category.
In an open economy, a decrease in capital inflows ________ the equilibrium domestic real interest rate and ________ the quantity of domestic investment.
A. decreases; decreases B. decreases; increases C. increases; decreases D. increases; increases
If demand decreases and supply increases,
A. the market clearing price will decrease, and the equilibrium quantity will increase. B. the market clearing price will decrease, and equilibrium quantity will decrease. C. the equilibrium quantity will decrease, but the change in the market clearing price cannot be determined without more information. D. the equilibrium price will decrease, but the change in the equilibrium quantity cannot be determined without more information.