In the balance of payments, any transaction that leads to a receipt by a resident of a country is a
A) minus item.
B) debit item.
C) surplus item.
D) deficit item.
C
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Congressman Flack votes for a program that will benefit the constituents of Congressman Walpole. The public choice model suggests that Flack's vote is best explained by which of the following?
A) logrolling B) the voting paradox C) party loyalty D) rational ignorance
___________ is the act of selecting among alternatives
a. Choice b. Risk c. Opportunity d. Fatalism
The legality of which of the following actions would be determined using the rule -of-reason?
A) an agreement with a competitor firm submit a high bid on a contract B) an agreement with a competitor firm to not sell to a particular customer C) an exclusive dealings contract with a customer D) an agreement with a competitor firm submit a low bid on a contract
Which of the following statements about markets is correct? I. A market helps resources move to their highest-valued uses by means of prices changes. II. A market represents the exchanges of both buyers and sellers
A) I only B) II only C) Both I and II D) Neither I nor II