Citizens typically cast their ballots without acquiring complete information about the candidates or the issues because they
What will be an ideal response?
believe that the information they acquire will have no effect on the outcome of the election.
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Which of the following will NOT lead to increased capital investment within a country?
A) increased uncertainty about private property rights B) increased certainty about private property rights C) increased certainty about being able to reap the gains from investing D) the decreased possibility of nationalization of private property
Stabilization policies are actions taken to bring the economy closer to full employment
Indicate whether the statement is true or false
At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?
A) Total revenue equals total cost. B) Marginal profit equals marginal cost. C) Average revenue equals average total cost. D) The difference between total revenue and total cost is the greatest.
Which of the following would cause an increase in the market supply of mountain bikes?
A) a decrease in the demand for mountain bikes B) an increase in taxes levied on mountain bike manufacturers C) an increase in the cost of components used to assemble mountain bikes D) an increase in the number of firms making mountain bikes