A politician may be considered an entrepreneur in the sense that
a. he is always open to bribery.
b. identical personal characteristics are necessary for success in politics and in business.
c. the successful politician discovers and offers voters political goods when voter demand is strong for him.
d. like the businessman, the politician selfishly attempts to gain at the expense of his customers.
C
You might also like to view...
Suppose the stock of capital remains constant. By adding more labor, perhaps a second work shift, output
A) remains the same. B) decreases. C) increases. D) becomes more costly.
Figure 3.3 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $7, there is an:
A. excess demand of 8 t-shirts. B. excess supply of 8 t-shirts. C. excess demand of 10 t-shirts. D. excess supply of 10 t-shirts.
Your boss, the mayor of a city, thought that she'd come up with a great way to raise city revenue: increase the tax on gasoline in the city! However, she discovered that the city was actually receiving less tax revenue after the gas tax increase than before. Incensed, she declared that the economic policy prescription of taxing goods with inelastic demand must be flawed. Comment on her conclusion.
What will be an ideal response?
The greater the inflation rate, the
A. better it is to put money into savings accounts. B. slower the decrease in the purchasing power of money. C. faster the decrease in the purchasing power of money. D. better it is to hold money as cash.