When a person lobbies Congress to grant the person the exclusive right to sell a particular good, such lobbying activity is called
A) rent seeking.
B) revenue abatement.
C) profit recovery.
D) revenue seeking.
A
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After the year 2000 . the FOMC changed some of its operating procedures. In particular, it stopped setting:
a. explicit interest rates for commercial banks to charge. b. explicit ranges for money growth targets. c. explicit number of government bonds to be bought and sold. d. standardized real GDP targets. e. explicit numbers for the targeted natural rates of unemployment.
A progressive income tax system can be defined as one in which
a. the government uses taxes paid by the wealthy to fund programs for the poor. b. an individual pays more dollars in taxes when his income rises. c. the marginal tax rate rises over time. d. the average tax rate is higher for individuals with higher incomes.
Of the following market structures, which are considered imperfectly competitive? I. Perfect competition II. Monopoly III. Monopolistic competition IV. Oligopoly
a. III only b. II and III c. III and IV d. II, III, and IV
Refer to Figure 2-10. If this economy put all available resources into the production of bananas, it could produce
a. 200 bananas and also 150 baseballs. b. 300 bananas and also 100 baseballs. c. 400 bananas and no baseballs. d. It is impossible to know unless we know the quantity of resources available.