If the United States economy were operating on its production possibilities frontier, it would have the best chance of quickly and temporarily reaching point F if
A. we were at war.
B. we were in a depression.
C. we were in a period of inflation.
D. we invested more in plant and equipment.
A. we were at war.
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Congressman Flack votes for a program that will benefit the constituents of Congressman Walpole. Which of the following explanations for Flack's vote is most consistent with the public choice model?
A) Congressman Flack did not have time to read and understand all of the legislation he voted on. Members of Congress often depend on their staffs to read proposed legislation and recommend how they should vote. B) Legislators such as Congressman Flack are similar to other decision-makers in that they sometimes make irrational choices. C) Congressman Flack expects Congressman Walpole's support for programs that will benefit Flack's constituents. D) Congressman Flack will support programs of legislators from his own party, regardless of who benefits from these programs.
If $30 is paid for a share of stock and the earning per share is $3, how long will it take for the firm's earnings to add up to the purchase price?
a. 30 years b. 3 years c. 27 years d. 10 years e. 90 years
Despite being a college graduate, Ethan cannot name any of his representatives in Congress and he has no idea which issues are being debated and voted on this week in Congress. According to public choice analysis, Ethan is
a. irrational. b. considering only the welfare of society and not his own personal interests. c. not intelligent enough to understand the issues. d. making a rational personal choice because knowing these things gives him little personal benefit.
Exhibit 11-13 A monopsonist's supply and marginal revenue product data Workers Wage Rate MRP 1 $ 8 $50 2 9 25 3 10 20 4 11 17 5 12 16 6 13 13 In Exhibit 11-13, how many workers will the monopsonist hire?
A. 4. B. 5. C. 3. D. 6.