Major causes of the increase in U.S. federal budget deficits between 2001 and 2008 were
A. investment in decaying public infrastructure and caring for The Lost Generation.
B. high interest rates and expansionary monetary policy.
C. tax cuts, and spending on homeland security, the war in Iraq, the war in Afghanistan.
D. research into HIV/AIDS and the new lunar landing mission.
Answer: C
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Which of the following is NOT a cost of inflation?
A) uncertainty cost B) confusion cost C) tax cost D) unemployment cost E) shoe-leather cost
When making a rational decision which requires the consideration of costs and benefits involved, the opportunity cost of a decision is often not taken into consideration when indeed it should be
a. True b. False Indicate whether the statement is true or false
In traditional economic models, which of the following does NOT describe homo economicus:
A. well-informed. B. impulsive. C. cognitively sophisticated. D. narrowly self-interested.
The political process is more likely to serve the interests of individuals whose preferences are in the middle, rather than individuals with preferences that are much to the left or right of the political center
This statement is best explained by which of the following? A) logrolling B) the Arrow impossibility theorem C) the voting paradox D) the median voter theorem