Senator Franklin told Senator Jefferson he would support her new bridge project if she would support his retirement funding bill. This is an example of ______.
a. rent seeking
b. vertical equity
c. logrolling
d. gerrymandering
c. logrolling
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Refer to Figure 13-7. Which of the following is the area that represents the profit or loss experienced by the firm?
A) a loss represented by the rectangle P2uvP1 B) a loss represented by the rectangle P2uwP0 C) an accounting profit equal to P1vwP0 D) a loss represented by the rectangle P1vwP0
The effective exchange rate:
a. Is a measure of the weighted-average value of a nation's currency in terms of a basket of other currencies. b. Is needed to translate prices of one currency into prices of another currency. c. Reflects the price of one currency in terms of another currency. d. Takes historic inflation rates into account.
Suppose a bank has $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 percent
If the Federal Reserve raises the required reserve ratio to 15 percent, then the bank will now have excess reserves of A) $0. B) -$5 million. C) $5 million. D) $15 million.
Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. What is her expected marginal benefit from holding the 21st cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $6.10
B) $7.20
C) $6.40
D) $8.00