Dairy farmers hold an annual Capitol Hill ice cream social that provides free ice cream for congressional staffers during which time representatives from the industry discuss issues with, and provide information to, congressional staff. This is an example of
a. logrolling.
b. rent seeking.
c. pork-barrel legislation.
d. the shortsightedness effect.
B
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All of the following describe the conflict between divisions EXCEPT
a. Divisional managers are rewarded for the efficiency of their divisions b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how well their own division is run d. corporate executives cannot tell when one divisional manager's decision is appropriate or not
For both a monopolist and a monopolistically competitive firm:
a. price equals average total cost. b. price is above marginal revenue. c. marginal revenue equals zero. d. marginal cost equals zero.
Suppose lawn mowers are part of the market basket used to compute the CPI. Suppose also that the quality of lawn mowers deteriorates while the price of lawn mowers stays the same. If the Bureau of Labor Statistics is able to precisely adjust the CPI for the improvement in quality, then, other things equal,
a. the CPI will rise. b. the CPI will fall. c. the CPI will stay the same. d. lawn mowers will no longer be included in the market basket.
An effective expansionary fiscal policy will:
A. reduce a cyclical deficit but necessarily increase the actual deficit. B. reduce the cyclically adjusted deficit. C. increase the cyclically adjusted deficit but reduce the actual deficit. D. always result in a balanced actual budget once full employment is achieved.