The federal government incentive to support special-interest groups (steel, auto, drug, environment) at the expense of unorganized, widely dispersed groups (for example, taxpayers or consumers) occurs
(a) only when the benefits that accrue to the special-interest group exceed the costs
imposed on others.
(b) when nonspecial-interest voters are unconcerned or uninformed about the issue, and
campaign funds are readily available from the special-interest group.
(c) only if the government action is efficient.
(d) only if the government action will reduce the monopoly power of business or labor,
and thereby lead to an improvement in the general welfare.
(b)
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If the long-run equilibrium of an economy is disrupted by an unexpected shift to a more expansionary monetary policy, the policy shift will
a. reduce aggregate demand and real output in the short run. b. lead to a higher rate of unemployment in the short run. c. stimulate real output in the short run, but in the long run, its primary impact will be on the general level of prices. d. lead to an increase in the general level of prices in the short run, but in the long run, its primary impact will be an expansion in real output.
One of the causes of structural unemployment is _______ shocks.
A. small, slow, and relatively permanent B. large, quick-hitting, temporary C. large, quick-hitting, and relatively permanent D. large, slow, and relatively permanent
An increase in tariffs on imported goods will shift the aggregate supply curve to the left and cause the level of output to decrease.
Answer the following statement true (T) or false (F)
Of the following high-income countries, which has the highest female life expectancy at age 65?
A) Canada B) Japan C) the United Kingdom D) the United States