If the liberum veto is used in a policy-making setting, it means:
A. it is easy to halt policies, because only one person needs to be bribed to stop them.
B. that government is an easy target for an area to become corrupt or taken advantage of.
C. complete consensus is needed for legislation to pass.
D. All of these are true.
Answer: D
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To stay one step ahead of the forces of competition, a firm can adopt one of these strategies except
a. Cost reduction b. Product differentiation c. Advertising d. Reduction in the intensity of competition
When a tax is regressive, as a person's income rises, the tax rate
a. remains unchanged b. decreases c. increases d. becomes the head tax rate e. becomes the excise tax rate
Suppose there are 100 identical firms producing package delivery services. One of the firms pays a wage rate of $7 and hires 20 delivery workers. The price the firm charges to deliver a package is $10 . We know then that the number of delivery workers in the package delivery industry is
a. 100 workers b. 200 workers c. 700 workers d. 2,000 workers e. 10,000 workers
Aggregate demand _________. Real GDP growth and the inflation rate _________.
Fill in the blank(s) with the appropriate word(s).