A major advantage of the ________ production function is that it can be easily transformed into a linear function, and thus can be analyzed with the linear regression method
A) cubic
B) power
C) quadratic
D) None of the above
B
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If the government increases the income tax rate:
A. disposable income decreases. B. disposable income increases. C. disposable income remains unaffected. D. total income increases.
If the Fed decides to buy T-bills, it increases the demand for T-bills. How will this affect the price of T-bills and the interest rate?
a. T-bill prices fall and interest rates fall. b. T-bill prices rise and interest rates rise. c. T-bill prices rise and interest rates fall. d. T-bill prices fall and interest rates rise.
According to public choice theory, a more democratic country:
A) can eliminate rational ignorance so that politicians can focus on policies that promote economic growth. B) have a higher living standard without policies to promote economic growth. C) will have more policies that promote economic growth because it has a larger share of population that is brought into power. D) will have more policies that promote economic growth because a small elite is more efficient in making policy decisions.
Which of the following is an example of a public good?
A. Social Security payments. B. Flood control. C. Carpooling with your friends. D. None of the choices are correct.