The political wisdom of choosing a tariff acceptable to the median U.S. voter is
A) a good example of the principle of the second best.
B) a good example of the way in which actual tariff policies are determined.
C) a good example of the principle of political negotiation.
D) not evident in actual tariff determination.
E) usually evident in actual tariff determination.
D
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Varying the quantity of output produced and sold at preset prices is called:
A. self-correcting economics. B. Say's law. C. meeting demand. D. spurring inflation.
A cartel attempts to increase profits in the industry by limiting the production of each member firm
a. True b. False Indicate whether the statement is true or false
Suppose that Abdul opens a coffee shop. He receives a loan from a bank for $100,000 . He withdraws $50,000 from his personal savings account. The interest rate on the loan is 8%, and the interest rate on his savings account is 2%. Abdul's annual explicit cost of capital is
a. $8,000. b. $4,000. c. $2,000. d. $1,000.
If cyclical unemployment is 4%, the overall unemployment rate
A. is 4%. B. is more than 4%. C. is 9%. D. is more than 9%.