Which of the following is true?
a. Competitive behavior is present in the market sector but not in the public sector.
b. Because candidates for public office represent a bundle of views, there is more ability for individuals to make their preferences count on specific issues than in the market sector.
c. When decisions are made democratically, the economic and political power of all individuals will be equal unlike in the market sector.
d. The reality of the aggregate consumption-aggregate payment link imposed by scarcity is present in both the market and public sectors.
D
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________ policy involves decisions about government spending and taxation
A) Monetary B) Fiscal C) Financial D) Systemic
When L.L. Bean decides to increase its prices due to general inflation, they must reprint the millions of catalogs they produce and distribute. The costs associated with doing so in response to inflation are called:
A. menu costs. B. shoe-leather costs. C. tax distortions. D. printing costs.
If the exchange rate is 2 Brazilian reals per dollar and a meal in Rio costs 20 reals, then how many dollars does it take to buy a meal in Rio?
a. 40 and your purchase will increase Brazil's net exports. b. 10 and your purchase will increase Brazil's net exports. c. 40 and your purchase will decrease Brazil's net exports. d. 10 and your purchase will decrease Brazil's net exports.
Other things the same, an increase in the U.S. interest rate causes U.S. net capital outflow to
a. rise, so supply in the market for foreign-currency exchange shifts right. b. rise, so demand in the market for foreign-currency exchange shifts right. c. fall, so supply in the market for foreign-currency exchange shifts left. d. fall, so demand in the market for foreign-currency exchange shifts left.