If everyone could participate in the logrolling process at low cost, _____
a. then logrolling would allocate resources efficiently
b. the political benefits to politicians would fall
c. political exchange would no longer be important
d. decision-making costs would be astronomical
a
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Bank C promises to pay a compound annual interest rate of 6 percent, while Bank S pays a 10 percent simple annual interest rate on deposits. If you deposit $1,000 in each bank, after 10 years, your deposit in Bank C equals ________, while your deposit in Bank S equals ________.
A. $1,791; $2,000 B. $1,600; $2,594 C. $1,600; $2,000 D. $1,060; $1,100
What is the opportunity cost of producing capital goods such as a new road?
What will be an ideal response?
Which of the following can lead to permanent differentials in resource prices?
a. an increase in demand for a product produced by the resource b. differences in the inherent quality of resources c. differences in the time and money involved in developing necessary skills d. differences in the nonmonetary rewards of a job e. a lack of resource mobility
Suppose the production function is given by Q = 2K + L. If w = $4 and r = $4, how many units of K and L will be utilized in the production process?
A. All L and no K. B. All K and no L. C. A combination of K and L not represented above. D. Equal amounts of K and L.