Logrolling refers to
a. vote trading among legislators.
b. the tendency of voters to free-ride on the payment for public goods.
c. the power of well-organized interest groups.
d. the tendency of legislators to favor the interests of the timber (logging) industry.
A
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The level of income is unchanged in response to anticipated anti-inflation policy in ________
A) real business cycle theory B) traditional Keynesian theory C) new Keynesian theory D) post classical theory
The New Deal policies both relieved distress and reformed the system to prevent future depressions. An example of the former is the ___ while the ___ is an example of the latter
a. Civilian Conservation Corps; Works Projects Administration. b. Works Projects Administration; Industrial Organization Review Board. c. Civilian Conservation Corps; Securities and Exchange Commission. d. Federal Deposit Insurance Corporation; Industrial Organization Review Board.
Suppose the cost of raw materials used by the cotton industry rises to a larger extent compared to the increase in demand in the market. Which of the following situations will arise?
a. The incidence of the higher cost will fall completely on the consumers. b. The incidence of the higher cost will fall completely on the high cost firms. c. The incidence of the higher cost will fall completely on the low cost firms. d. The incidence of the higher cost will fall partially on the consumers and partially on the sellers.
Which of the following is not a reason economies experience structural unemployment?
a. job search b. unions c. minimum-wage laws d. efficiency wages