In which of the following political systems would a political business cycle be more likely to occur?
A) a democracy with elections that occur on a regular basis
B) a parliamentary
C) communist-type economies
D) socialist-type economies
E) a democracy with elections that occur on an irregular basis
A
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A typical consumer consumes both coffee and donuts. After the consumer's income decreases, the consumer consumes more coffee but fewer donuts than before. For this consumer, coffee is a normal good, but donuts are an inferior good
a. True b. False Indicate whether the statement is true or false
In the Coen Brothers' movie The Hudsucker Proxy the board of directors picks someone to run the company who they believe will make poor decisions. If things turn out as they plan,
a. the price of a share of stock in the Hudsucker corporation should decline as the demand for shares falls. b. the price of a share of stock in the Hudsucker corporation should rise as the demand for shares rises. c. the price of a share of stock in the Hudsucker corporation should decline as the supply of existing shares falls. d. the price of a share of stock in the Hudsucker corporation should rise as the supply of existing shares rises.
Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. After applying the second bag of fertilizer, the farmer experienced:
A. increasing returns. B. diminishing returns. C. constant returns. D. negative returns.
A moral hazard arises when
A. high-risk individuals are unable to find insurance. B. insurance leads the insured to be less careful. C. risk-averse individuals purchase insurance. D. insurers are unable to fully pay legitimate claims.