Attempts to influence the law for your own private economic advantage is called
A) tax imposition.
B) subsidizing.
C) rent seeking.
D) creating a deadweight loss.
C
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Saving time by driving faster is an example of a ________ of driving faster. Increasing the severity of injuries from a potential accident due to driving faster is a(n) ________ of driving faster
A) nominal cost; real cost B) normative benefit; opportunity cost C) marginal benefit; marginal cost D) marginal cost; nominal cost
When the Fed buys government securities
A) reserves increase, leading to a decrease in the money supply by an amount more than the purchase of the government securities. B) reserves increase, leading to a increase in the money supply by an amount more than the purchase of the government securities. C) reserves decrease, leading to a increase in the money supply by an amount more than the purchase of the government securities. D) reserves decrease, leading to a decrease in the money supply by an amount more than the purchase of the government securities.
When a firm faces a downward-sloping demand curve, marginal revenue
A) must exceed price because the price effect outweighs the output effect. B) must exceed price because the output effect outweighs the price effect. C) is less than price because a firm must lower its price to sell more. D) equals price because the firm sells a standardized product.
When the U.S. Treasury purchases gold and then replenishes its deposit in the Fed the effect is that __________ and __________
A) reserves increase; gold certificates increase B) reserves decrease; gold certificates increase C) gold certificates increase; Treasury deposits increase D) gold owned by the Fed increases; Treasury deposits increase