A limit on special-interest contributions to national political campaigns
a. would give challengers an edge over incumbents
b. is usually supported by special-interest groups as a way of saving money
c. would involve widespread costs and concentrated benefits
d. would reduce the extent of rent seeking
e. is an example of competing-interest legislation
D
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Total cost is calculated as
a. FC + MC b. FC / MC c. (VC + FC) / MC d. VC + FC e. VC ? output
Which of following is true of monopoly and not of perfect competition?
a. Profit is maximized where marginal cost equals marginal revenue b. The industry demand curve is also the firm's demand curve c. Normal profits are made only if average total cost equals average revenue d. Profit is maximized in the elastic portion of the demand curve e. the firm has no control over the market price
Compared to the United States, the income distribution in other major industrial nations tends to be
a. more concentrated b. less concentrated c. similar d. impossible to calculate e. not comparable because tax structures differ among countries
What is the domestic exchange equation of Italy?
