The main reason the United States' standard of living is higher than that of India and China is that we have more
A. land.
B. labor.
C. capital.
D. money.
C. capital.
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If a voter expects to have little effect on government choices, that voter's behavior will reflect
a. rational ignorance b. a cyclical majority c. rent seeking d. vote trading e. a zero-sum game
A decrease in the price of domestically produced industrial robots will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.
What should be the priority of politicians? Should they be mainly concerned with conveying and voting the wishes of the people that they represent? Should they be mainly concerned with standing for positions that they feel strongly about? Should they be mainly concerned with securing reelection?
What will be an ideal response?
If the demand for high definition televisions increases and the supply of high definition televisions increases, then
A) it is clear that prices will increase; the change in the quantity of televisions sold is ambiguous. B) it is clear that prices will decrease; the change in the quantity of televisions sold is ambiguous. C) it is clear that quantity sold will increase; the change in the price of televisions is ambiguous. D) it is clear that quantity sold will decrease; the change in the price of televisions is ambiguous.