When considering rent seeking, which of the following is TRUE?
A) The anti-free trade group generally will lobby more than the pro-free trade group.
B) The pro-free trade group generally will lobby more than the anti-free trade group.
C) Usually only the anti-free trade group is concerned about what is best for society at large.
D) Only the pro-free trade group is concerned about the government's revenue from tariffs.
A
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The mechanism that normally coordinates what goes on in an economy is the
A) government. B) Federal Reserve. C) price system. D) stock market.
The difference between personal income and disposable income is:
A) corporate taxes B) personal taxes C) savings D) none of the above
Under "trickle down", additional economic activity will benefit the poor
Indicate whether the statement is true or false
What's the opportunity cost of taking an unfair advantage in a deal?
A. Probably nothing, if the transaction is only taking place once. B. Building a reputation for being untrustworthy if the deal is likely to be repeated. C. Future deals may not occur or may come at a much higher cost. D. All of these statements are true.