According to public choice theory, a more democratic country:
A) can eliminate rational ignorance so that politicians can focus on policies that promote economic growth.
B) have a higher living standard without policies to promote economic growth.
C) will have more policies that promote economic growth because it has a larger share of population that is brought into power.
D) will have more policies that promote economic growth because a small elite is more efficient in making policy decisions.
Answer: C) will have more policies that promote economic growth because it has a larger share of population that is brought into power.
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Short selling is the practice of borrowing stock then selling it with the expectation that its price will fall further so that it can be repurchased and the stock returned to the lender
The difference in the price sold initially and the price that it was subsequently purchased represents profits for short sellers. Discuss the risks taken by such individuals. What kind of risk profile do short sellers exhibit.
On a graph of production costs, the vertical distance between the fixed cost curve and the total cost curve at a specific quantity represents
a. variable cost b. average variable cost c. average total cost d. average fixed cost e. marginal cost
In his 1951 book, Social Choice and Individual Values, Kenneth Arrow used the term "transitivity" to mean
a. A beats B only if everyone prefers A to B. b. if everyone prefers A to B, then A beats B. c. if A beats B and B beats C, then A must beat C. d. everyone who is eligible to vote must vote; otherwise, the outcome is invalid.
Price of Good X(Px)Quantity of Good X(Qx)Own Price ElasticityTotal Revenue01000.000590-0.11450A80-0.258001570-0.4310502060-0.6712002550C125030B-1.5012003530-2.3310504020-4.00D4510-9.00450500-?0The demand function in the accompanying table is QXd = 100 ? 2PX. Based on this information, when QX = 80, the price, PX (point A), is:
A. $10. B. $15. C. $20. D. $5.