An elected official:
a. tend to favor policies that yield concentrated benefits and impose dispersed costs
b. tend to oppose policies that yield dispersed benefits and impose concentrated costs
c. improve his or her chances of re-election by being responsive to special-interest groups
d. all of the above
Answer: d. all of the above
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Which of the following does NOT influence the type of oligopoly that forms?
A) Whether firms act sequentially or simultaneously. B) Whether firms set price or quantity. C) The type of demand curve the firms face. D) The time horizon over which firms will be in competition.
The cross-price elasticity of demand for peanut butter with respect to the price of jelly is -0.3. If we expect the price of jelly to decline by 15%, what is the expected change in the quantity demanded for peanut butter?
A) +15% B) +45% C) +4.5% D) -4.5%
According to the 1860 census, the top employer in manufacturing was the _______ industry
a. boots and shoes b. cotton textile c. flour and meal d. iron
A corporate bond sold in 2000 with a face value of $10,000 . a $100 coupon, and a maturity date in 2010
a. will pay the bondholder $100 a year every year from 2000 to 2010 and will also pay him $9,000 in 2010. b. will pay the bondholder $100 a year every year from 2000 to 2010 and will also pay him $10,000 in 2010. c. requires the bondholder to pay $100 a year every year from 2000 to 2010 and will pay him $10,000 in 2010. d. requires the bondholder to pay $100 in 2000 only and will pay him $10,000 in 2010.