Which would be an avenue for resolving the inefficiencies associated with majority voting?
A. The paradox of voting
B. Progressive taxation
C. Proportional taxation
D. Special interest groups
D. Special interest groups
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The supply of a good will tend to be highly elastic if
A) additional resources to produce the good can be obtained quickly and with no increase in cost. B) its price rises quickly and sharply when the demand increases. C) the good has few close substitutes. D) the good is generally classified as a luxury. E) the good is generally classified as a necessity.
A piece of evidence in favor the Keynesian model would be that
a. investment is very sensitive to changes in tax rates. b. changes in aggregate income cause changes in investment, but not vice versa. c. the aggregate price level is negatively correlated with income. d. all of the above.
Discrimination is usually not a profit-maximizing strategy
a. True b. False Indicate whether the statement is true or false
Suppose the price of a gallon of ice cream rises from $4 to $5 and the price of a can of coffee rises from $2 to $2.50 . If the CPI rises from 150 to 177, then people likely will buy
a. more ice cream and more coffee. b. more ice cream and less coffee. c. less ice cream and more coffee. d. less ice cream and less coffee.