The public choice model assumes that government policymakers
A) must promote the public interest at the expense of their own self-interests in order to be re-elected.
B) will pursue their self-interests in personal affairs but only if it does not conflict with the public interest.
C) are likely to pursue their own self-interests, even if their self-interests conflict with the public interest.
D) will often act irrationally in their personal affairs, but will act rationally when they promote the public interest.
C
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Which one of the following does NOT appear to contribute to economic growth?
A) knowledge B) a system of well-defined property rights C) protectionism D) innovation
Which company bilked its stockholders and allowed their employees' pension funds to be wiped out?
A. Arthur Andersen B. HealthSouth C. Adelphia D. Enron
In oligopoly, minimum efficient scale is large relative to the market
a. True b. False
Real GDP is:
A. the actual GDP that is created in the economy when we consider all items purchased. B. calculated based on goods and services valued at current prices (current at the time of production). C. calculated based on goods and services valued at constant prices. D. useful in clearly seeing changes in prices over time using GDP.