A logroll refers to a(n):
A. bunch of individuals who are indifferent about others' proposals, but agree to support all the requests, so each can get what she wants.
B. individual who is indifferent about others' proposals, but agrees to support all the requests, so he can get what she wants.
C. bunch of individuals who are indifferent about one single proposal, but agree to support it, so each can get what she wants.
D. bunch of individuals who care about others' proposals, and agree to support each other.
Answer: A
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If marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost ________ and average variable cost ________
A) increases; decreases B) decreases; decreases C) increases; increases D) decreases; increases
The costs of disinflation would be low if
A) expected inflation falls as inflation falls. B) wage and price controls were used. C) the Phillips curve were nearly horizontal. D) the Phillips curve adjusted slowly to changes in inflation.
Generalizing using statistical discrimination is:
A. an irrational response and always leads to loss of surplus. B. a rational response to being on the wrong end of an information asymmetry. C. a rational response, although government always steps in to prevent it. D. All of these statements are true.
What most frightens investors in the stock market is:
a. the possibility of losing their investments b. the possibility of gaining too much from their investments, and the resultant tax consequences c. the possibility that the prices of many investments may collapse simultaneously d. the possibility that a company that they have invested in will go bankrupt