The possible increase in rent-seeking behavior is a ________ argument ________ government intervention to reduce inequality.
A. fairness-based; against
B. data-based; against
C. growth-based; in favor of
D. political; against
Answer: D
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________ are guarantees of quality issued directly by either the manufacturer or the seller
A) Patents B) Trademarks C) Warranties D) Copyrights
Deficits are a burden on future generations if they
A) cause higher rates of inflation to occur. B) are not used for government capital formation. C) cause national saving to fall. D) are always a primary government deficit.
Best Lights wants to prevent Bright Lights from entering the light bulb market. If Best Lights expands its capacity, the expansion can lead to all of the following except which one?
A) decrease Bright Lights' profit from entering the market B) lower Best Lights' profit-maximizing price C) lower Best Lights' profit-maximizing quantity D) lower Best Lights' marginal cost
Which of the following would not be classified as a mechanism of self-control?
A. An alcoholic campaigning for higher liquor taxes. B. Having an alarm system installed in your home. C. Leaving a credit card at home when you walk in the mall with friends. D. An overweight person joining a weight-watchers group.