According to the economic way of thinking, personal benefits and costs influence the actions of
a. consumers in the private sector but not voters in the public sector.
b. producers in the private sector but not politicians in the public sector.
c. taxpayers but not recipients of government-provided goods and services.
d. consumers, producers, voters, and politicians in both the private and the public sectors.
D
You might also like to view...
If an increase in price from $1 to $2 per unit leads to an increase in quantity supplied from 20 to 100 units, then the value of price elasticity of supply is
a. 0.38 b. 2 c. 2.67 d. 4 e. 8
Which of the following would cause the demand for mathematicians to increase?
a. an increase in the productivity of physicists. b. an increase in the wage of mathematicians. c. a decrease in the productivity of mathematicians. d. an increase in the productivity of mathematicians.
If the government wishes to increase GDP by $1,200b, and the MPC is 0.8, it should:
A. increase its spending by $960b. B. increase its spending by $240b. C. decrease its spending by $240b. D. decrease its spending by $960b.
An individual bank may legally loan out an amount equal to its __________.
Fill in the blank(s) with the appropriate word(s).