If the legislature has a line-item veto on a bureau's budget, the bureau
a. can no longer present its entire budget as a package deal for provision of services
b. will have more power than if the legislature used an overall budget ceiling
c. will be able to supply its output to the legislature as a monopolist
d. will try to discourage budget cuts by threatening to make cuts that will cause the legislature the least political trouble
e. will be free to pursue its own overall objectives
A
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Based on the data in the above table, to assure that the efficient amount is produced the government can
A) subsidize the suppliers $8 per unit. B) subsidize the suppliers $2 per unit. C) tax suppliers $2 per unit. D) tax suppliers $8 per unit.
“Fair” outcomes and “efficient” outcomes are always identical.
Answer the following statement true (T) or false (F)
Which of the following goods' prices are not considered when calculating core inflation?
A. food B. housing C. clothing D. entertainment
Compared to barter, money __________ transaction costs, making transactions __________ time-consuming
A) increases; more B) increases; less C) reduces; more D) reduces; less