Vote trading in legislatures can lead to efficient outcomes that might otherwise not have been reached.
Answer the following statement true (T) or false (F)
True
Rationale: If some projects have high localized benefits, it may be efficient to implement such projects -- but they can't get enough votes in a legislature unless they are bundled together with other projects in other districts.
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Traveler's checks are included in:
A. M1 only. B. M2 only. C. both M1 and M2. D. neither M1 nor M2.
The country Autarka does not allow international trade. In Autarka, you can buy a wool suit for 3 ounces of gold. Meanwhile, in neighboring countries, you can buy the same suit for 2 ounces of gold. This suggests that
a. Autarka does not have a comparative advantage in producing suits and would become a suit importer if it opened up trade. b. Autarka has a comparative advantage in producing suits and would become a suit importer if it opened up trade. c. Autarka does not have a comparative advantage in producing suits and would become a suit exporter if it opened up trade. d. Autarka has a comparative advantage in producing suits and would become a suit exporter if it opened up trade.
Resources are exchanged in ________ markets.
A. factor B. product C. exchange rate D. stock
The marginal tax rate is the tax rate paid on
A. all income earned. B. taxable retirement income. C. all supplemental income. D. any additional income earned.