Often, government spending increases due to log-rolling among politicians. Log-rolling is when politicians vote for which of the following?
a. projects the government leadership supports even when the citizens who elected the politician do not
b. projects in their districts that are not efficient for the nation
c. projects they normally would not support in return for other politicians voting for their projects
d. projects that have benefits for the nation that outweigh their costs
c. projects they normally would not support in return for other politicians voting for their projects
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This Application discusses the ________ and its enforcement of international trade laws
A) World Trade Organization B) General Agreement on Tariffs and Trade C) European Union D) North American Free Trade Agreement
Which of the following is a checkable deposit?
A) a NOW account B) a money market deposit account C) a certificate of deposit D) a savings account
Full employment is defined by all economists as precisely 5 percent of the labor force
a. True b. False Indicate whether the statement is true or false
Answer the following statement true (T) or false (F)
1) The interest-rate cost-of-funds curve is perfectly elastic because firms can borrow as much or as little as they want at market interest rates. 2) The interest-rate cost-of-funds curve is perfectly elastic because expected rates of return on R&D are constant. 3) Large, well-established firms are more likely to use retained earnings to finance R&D, while small start-up firms are more likely to rely on venture capital. 4) Kara's Kettles, Inc. has developed a new and improved type of cookware. Alex, a typical consumer, will necessarily purchase Kara's new product if his MU/P for the new cookware exceeds that of competing products. 5) According to the inverted-U theory of R&D, other things equal, firms in industries with concentration ratios around 10 percent will be more technologically progressive than firms in industries with 50 percent concentration ratios.