Bureaucratic capture is:
A. when government positions are filled with people who have close ties to the group they are supposed to regulate.
B. a source of bias or personal sympathy that interferes with efficiency.
C. a specific avenue through which corruption and rent-seeking can occur.
D. All of these are true.
Answer: D
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To lower long-term interest rates, in 2010 the Fed started its new open market operation program to purchase
A) mortgage-backed securities. B) commercial papers. C) long-term Treasuries. D) Treasury bills and Treasury notes.
One factor contributing to the rapid growth of the commercial paper market since 1970 is
A) the fact that commercial paper has no default risk. B) improved information technology making it easier to screen credit risks. C) government regulation. D) FDIC insurance for commercial paper.
On January 1, 2010, a homeowner borrowed $5,000 for a term of six months to complete some home improvements, paying an annual interest rate of 8 percent. How much principal and interest will the homeowner pay back on July 1, 2010?
A. $2,500 B. $2,900 C. $5,200 D. $5,400
The relative scarcity of water in desert societies causes the marginal utility of the last unit consumed to be
a. zero b. low c. high d. equal to price e. equal to demand