"Logrolling" is
A) the exchange of votes to gain support for legislation.
B) pressure that special interest groups place on politicians.
C) when politicians refuse to go into detail and speak only in generalities.
D) the process by which government agencies make sure they spend their allotted annual budget.
A
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Automatic fiscal policy ________
A. requires an action of the government B. is weak unless the government cuts its outlays to reduce the deficit C. operates as the economy moves along its business cycle D. reduces the deficit as the economy goes into recession
Which of the following is generally accepted as a valid criticism of the production of useful goods and services?
A. government involvement B. the black market C. environmental pollution D. economic freedom
Assume the standard trade model with two countries (Alpha and Beta), two goods (food and drink), and two factors of production (land and labor). Further assume that Alpha is relatively labor-abundant and food is relatively land-intensive. According to the Heckscher-Ohlin theory, Beta has a comparative advantage in the production of
A. food. B. drink. C. neither good. D. both goods.
If the MPC is 0.8 and the APC is 0.9, the MPS equals
A. 1.7. B. 0.1. C. 0.2. D. 0.8.