A principal idea associated with public choice theory is that
a. special interests dictate what government does
b. the public chooses, but the government does what it wants
c. government failure is less than market failure
d. market failure is less than government failure
e. people's choices dictate what government does
A
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The symbiotic relationship between mass production and mass consumption was best personified by
A. John D. Rockefeller. B. Andrew Carnegie. C. Henry Ford. D. John Deere.
The assessed value of a home is
A. the value that the jurisdiction uses to assign taxes. B. an annual 6% increase in the value of a home. C. the annual rate of deprecation of a home because of use. D. always lower than its market value.
The portfolio theories of money demand state that when income (and therefore, wealth) is higher, the demand for the money asset will ________ and the demand for real money balances will be ________
A) rise; higher B) rise; lower C) fall; higher D) fall; lower
Firms should stop borrowing funds
A. as soon as the bank raises the interest rate. B. when the MRP of borrowed funds is equal to the cost of borrowing. C. whenever the future of the firm looks gloomy. D. if their debts are more than 25 percent of the value of the firm.