Once a government program is put into place, the employees of the bureau put in charge of administering the program _____
a. become profit maximizers
b. begin working in the public interest
c. start rent seeking
d. become an interest group
d
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If transactions costs are high, the economic pie may not be maximized
Indicate whether the statement is true or false
An individual anticipating rising interest rates is likely to hold more
A) money. B) real assets. C) stock. D) bonds.
Which of the following does not influence the natural rate of unemployment in the U.S.?
A) demographics B) the natural rate in Europe and Japan C) the composition of the labor force D) surprises in productivity growth
Widespread acceptance of the Keynesian theory of fiscal policy
a. caused most economists to reject the public choice view of budget deficits. b. relaxed the political pressure to balance the budget and, hence, paved the way for the persistent budget deficits of the last five decades. c. was based on the view that continual budget deficits would help stabilize the economy. d. increased the pressure for a constitutional amendment mandating that the federal government balance its budget.