Special-interest programs are highly attractive to vote-seeking politicians because
What will be an ideal response?
members of special interest groups favoring these programs feel strongly about them while most other voters are rationally uninformed about them.
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Interest rates in the United States rise relative to interest rates in other countries. As a result, in the foreign exchange market
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is an upward movement along the supply curve of dollars.
Rate of return regulation is most similar to
A) a marginal cost pricing rule. B) an average cost pricing rule. C) an average variable cost pricing rule. D) an inflation cost pricing rule.
The exclusive rights of ownership of property are generally referred to as
A) level property rights. B) private property rights. C) public property rights. D) common property rights.
When contractionary monetary policy increases the interest rate, it causes the price level to:
A. decrease, and output to decrease. B. rise, and output to increase. C. decrease, and output to increase. D. rise, and output to decrease.