Sjen Mavago, the economics minister of the country of X-Marks-the-Spot, has concluded that entrepreneurs are unable to generate the kind of growth the country needs. Her decision to create state enterprises might be motivated by the desire to
a. earn profit
b. provide jobs for friends and relatives of government officials
c. take risks
d. encourage a free market
e. limit government's role in the economy
B
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Refer to the figure above. How many chairs were imported by Lithasia before the tariff was imposed by the government?
A) 25 units B) 50 units C) 55 units D) 60 units
Economists find that models based on the assumption of rational behavior are robust, because a world in which everyone is rational would function quite similarly to a world in which there are no
a. unexploited profit opportunities. b. constraints due to scarcity. c. inefficient markets. d. barriers to free trade.
Which voter is the voter whose views on a policy issue are in the middle of the spectrum, with half of the voters on one side of this voter's view and half on the other side
a. Average voter b. Mean voter c. Modal voter d. Median voter
When the demand and the supply for bread increases simultaneously, will we able determine their effects on the equilibrium price?
What will be an ideal response?