The behavior of people in government
A) can be explained or understood by applying the same principles we use to predict the behavior of people in business.
B) is different from the behavior of people in business because the former aims at the general welfare rather than private welfare.
C) is essentially different from market behavior.
D) is not compatible with the existence of a market system.
E) serves to balance private-sector behavior.
A
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Paper money is a good example of commodity money
a. True b. False Indicate whether the statement is true or false
In a recent fare war, America West reduced the price of its roundtrip airfare from Charlotte, North Carolina, to New York City from $198 to $138 to match American Airlines. America West matched the fare reluctantly, saying it would cost the company
millions of dollars in revenue for those tickets to be sold for less. American, on the other hand, believed the fare cut would increase its revenue even if rival airlines matched the lower fares. What different assumptions about the underlying price elasticity of demand for airline tickets on that route did each airline believe true?
Labor union membership, as a percent of workers, has steadily declined over the last several decades.
Answer the following statement true (T) or false (F)
Which of the following seems to be the most acute institutional problem that needs to be resolved by many DVCs?
A. The use of capital-saving technology B. Development of natural resources C. Widespread political corruption D. An increase in foreign aid