In most elections, _____ impedes political exchange
a. low transactions costs
b. uncertainty
c. the secret ballot
d. special interests
c
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The equilibrium level of regulation is _____
a. determined where marginal political gains to the special interests are equal to the marginal political costs of the foregone regulation b. determined where the marginal benefits from the regulation are equal to the marginal costs of the regulation c. determined where the marginal political benefits to the special interests are equal to zero d. determined where the marginal benefits from the regulation are equal to zero
If a nation has a higher level of technology than another nation it means that they will be able to produce:
A. more outputs with the same inputs. B. less with the same amount of physical capital. C. more with no capital. D. the same output with the same level of inputs.
The speculative motive for holding money reflects the behavior of people who hold money
a. instead of near money b. to transact purchases they expect to make c. as insurance against unexpected needs d. to speculate in the stock market e. to take advantage of anticipated or hoped for changes in interest rates
The figure below represents the domestic market for wheat in a small country. Imports of wheat are prohibited.
With an export subsidy of $20 per bushel, the net loss in national well-being as a result of the export subsidy is
A. $500 million. B. $200 million. C. $2.2 billion. D. $300 million.