A direct implication of the special interest theory of government is that _____
a. political pressure from special interests pushes government to expand
b. special interests get whatever they want
c. special interests do not get what they want under Incrementalism
d. the general public general can apply more pressure than special interests and thus will move the budget in drastic ways, depending upon public sentiment
a
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When the price of a normal good decreases, the ________ can be divided between the ________, which keeps the best affordable point on the same indifference curve and the ________, which moves the best affordable point farther away from the origin
A) substitution effect; price effect; income effect B) price effect; income effect; substitution effect C) income effect; substitution effect; price effect D) price effect; substitution effect; income effect
The natural rate of unemployment is not zero. It is at least 5 percent, allowing for individuals who are frictionally and structurally unemployed
Indicate whether the statement is true or false
Luke realizes that his space taxi service is operating in the region of diminishing marginal product. As he provides more taxi service in the short run, what will happen to the marginal cost of providing the additional service? a. It is impossible to say anything about marginal cost with the information provided. b. Marginal cost will decrease
c. Marginal cost will increase. d. Marginal cost will stay the same.
Expansion of factories, investment in new computers and/or equipment are processes of capital formation.
Answer the following statement true (T) or false (F)