Which of the following activities is most likely to be considered rent seeking?
A. Buying an apartment building
B. Hiring a lobbyist
C. Voting for a politician who supports government spending
D. Buying common stock
Answer: B
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Based on the above table, what is the marginal product of the 6th worker hired at Jefferson's Cleaners?
A) 10 suits per day B) 11 suits per day C) 14 suits per day D) 84 suits per day
The demand for the product of a monopolistically competitive firm is highly elastic when
A) firms collude. B) there are fewer firms in the industry. C) there is a lot of product differentiation. D) there are a lot of close substitutes.
Food stamps are government-issued "money" that can be used
a. by low-income people to buy food in supermarkets and restaurants b. to exchange for real money to be used for purchases of food c. by low-income people at most food stores to buy specific food items d. by foreign tourists to buy imported foods e. by low-income people to buy only bread, milk, and cheese from government outlets
Currency appreciation would occur in a nation if
A. the demand for the nation's exports increases. B. the demand for the nation's imports increases. C. real interest rates in the nation decrease relative to the rest of the world. D. the inflation rate is higher within the nation than in the rest of the world.