According to the economic theory of government, policies in a democracy will favor
A) the interests of many small minorities.
B) the public interest.
C) the real interests of the majority.
D) whatever the majority thinks it wants even when this is not in the majority's real long run interest.
A
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Are business inventory changes always planned? Give an example to support your argument
The diagram concerns supply adjustments to an increase in demand (D1 to D2) in the immediate period, the short run, and the long run. Supply curves S1, S2, and S3 apply to the
Use the figure below to answer the following question.
A. short run, long run, and immediate period respectively.
B. long run, short run, and immediate period respectively.
C. immediate period, long run, and short run respectively.
D. immediate period, short run, and long run respectively.
Critics of minimum wage laws argue that such laws will end up hurting people with lower skills because
A. property income is a better way to measure hourly rates. B. lower skilled workers will be forced into taking jobs that they would not freely choose. C. these laws interfere with the smooth functioning of the labor market and create unemployment. D. compensating differentials will not be applied.
The current account is the record of
A) changes in the government's holdings of foreign currency. B) the nation's exports but not its imports. C) payments for imports, receipts for exports, net interest, and net transfers. D) a nation's international trading, borrowing, and lending. E) foreign investment in the nation minus the nation's investment abroad.