Which of the following is usually discussed in the case against government?
A. special interest groups and transfers
B. the unintended effects of governments actions
C. removal from the prisoner's dilemma
D. a and b
E. none of the above
Answer: D
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Which of the following describes a situation in which a good or service is produced at the lowest possible cost?
A) marginal efficiency B) productive efficiency C) allocative efficiency D) profit maximization
Wine Merger In October, 2014, Vintners Global Resource's (VGR) agreed to purchase M.A. Silva. VGR is a leading manufacturer of glass bottles and packaging for wines and M.A. Silva is a manufacturer of premium natural corks. What is the expected effect of this merger on price-cost margins?
If the marginal propensity to consume is 0.75 and government spending decreases by $2,000 billion, what is the change in GDP?
a. -$2,000 billion b. -$8,000 billion c. $2,000 billion d. $1,500 billion e. $8,000 billion
As long as the loanable funds market clears, Say's law holds
a. True b. False