According to the partisan theory,
a. politicians are viewed as working only for their own welfare.
b. there are two parties with flexible goals.
c. moderates and liberals often switch political goals.
d. macroeconomic policy is not a key focus of most politicians.
e. none of the above.
A
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Suppose the economy of Georgia can produce pecans and peanuts. Suppose the economy can either produce 10,000 pecans or 15,000 peanuts if full specialization in one good were to occur
What is the opportunity cost of increasing pecan production from 5,000 to 10,000 pecans? A) 1,000 peanuts B) 5,000 peanuts C) 7,500 peanuts D) 10,000 peanuts
Refer to Scenario 14.2. What is the average product of the 4th worker?
A) 4 B) 5 C) 6 D) 6.5 E) 7
If the quantity supplied stays the same no matter what the price is, then supply is
A) perfectly inelastic. B) perfectly elastic. C) unit elastic. D) undefined.
Every government's set of policies used to govern their economy:
A. vary widely from one another, making international trade a simple process. B. vary widely from one another, making international trade sometimes difficult. C. are largely the same, making international trade a simple process. D. are similar in most respects, but different in a few areas, making international trade sometimes difficult.