The point where the sum of the external and decision-making costs is minimized is _____
a. unanimity
b. Pareto efficient
c. simple majority rule
d. the optimal collective decision rule
d
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If demand is price inelastic and the price is lowered, which of the following occurs?
A) The quantity sold decreases. B) The total expenditure increases and the total revenue decreases. C) The total revenue of the firms selling the product is unchanged. D) The total revenue of the firms selling the product decreases. E) The total expenditure decreases and the total revenue increases.
A profit-maximizing firm in a monopolistically competitive market charges a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
The view that many welfare mothers have baby after baby to keep their welfare checks rising is a view held by
A. many conservatives. B. many liberals. C. both many liberals and conservatives. D. neither many liberals nor many conservatives.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.