______ representation emphasizes how representatives act for the people and promote their interests.
A. Descriptive representation
B. Formalistic representation
C. Symbolic representation
D. Substantive representation
D. Substantive representation
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Refer to the figure above. What is the opportunity cost of producing one computer program?
A) 0.2 Web sites B) 5 Web sites C) 8 Web sites D) 12 Web sites
Everything else held constant, if the sum of the required reserve ratio and the excess reserve ratio is less than one, a decrease in the currency-checkable deposit ratio will mean
A) an increase in currency in circulation and an increase in the money supply. B) an increase in money supply. C) a decrease in the money supply. D) an increase in currency in circulation but no change in the money supply.
Supply curves are usually upward sloping
Indicate whether the statement is true or false
Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV, QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. How many households would demand cable TV if it were free?
A. No households B. 15,000 households C. 67,000 households D. Every household would demand cable TV if it were free.