Market allocation and the political process differ in that
a. competition is present in the market sector but not in the political sector.
b. scarcity is a constraint in the market sector but not the political sector.
c. there is a one-to-one link between payment for and receipt of a good in the market sector, but this is often not true in the political sector.
d. in the political sector, voters have a strong incentive to acquire information that will help them make better decisions, but in the market sector, consumers do not have much incentive to acquire information.
C
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Most municipal bonds are issued in
A) serial maturity form. B) single maturity form. C) convertible form. D) commercial form.
A resource that is a common property is
A) oil on land owned by a drilling and refining company. B) natural gas on land owned by an energy producer. C) timber on land owned by a lumber company. D) water in a publicly owned river.
A second or third worker may have a higher marginal product than the first worker in certain circumstances
a. True b. False Indicate whether the statement is true or false
A market includes
a. buyers only. b. sellers only. c. both buyers and sellers. d. the place where transactions occur but not the people involved.