Other things constant, if both the benefits and costs of a public-sector activity are widespread among voters, the political process will generally result in the
a. rejection of productive activities and acceptance of unproductive activities.
b. acceptance of both productive and unproductive activities.
c. rejection of both productive and unproductive activities.
d. acceptance of productive activities and rejection of unproductive activities.
D
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An economy that does not have interactions in trade or finance with other economies is referred to as
A) a closed economy. B) an open economy. C) a net foreign investment economy. D) a trade-balanced economy.
Changes in the macroeconomy, such as an increase in average per person income, can have effects at the microeconomic level, for example, on the profitability of firms in a particular industry
Indicate whether the statement is true or false
You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 33 + 3Q2. The profit-maximizing output for your firm is:
A. 10. B. 6. C. 5. D. 3.
An automatic increase in a wage rate found in some contracts is known as a
A. charge for living amendment. B. cost of labor arrangement. C. change of labor agreement. D. cost of living adjustment.