Economic analysis suggests that bureaucrats and public-sector managers have a strong incentive to
a. make sure that their budgets are as small as possible so more funds will be available for other government programs.
b. expand their budgets to sizes beyond what would be considered economically efficient.
c. ensure that their budgets are exactly the size that would be considered economically efficient.
d. economize on their spending and return unspent funds to the general treasury.
B
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A decrease in the level of real GDP in the economy leads to
A) a leftward shift in the demand for money curve. B) a rightward shift in the demand for money curve. C) a leftward movement along the demand for money curve. D) a rightward movement along the demand for money curve.
A decrease in the level of cyclical unemployment will shift the long-run Phillips curve
Indicate whether the statement is true or false
Deflation:
a. was prevalent during the oil shocks of the 1970s. b. will cause consumers' purchasing power to shrink. c. has been persistent in the U.S. economy since the Great Depression. d. none of these.
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, Joe's opportunity cost of selling a car is ________ than Ralph's, and Joe's opportunity cost of selling a car is ________ than Larry's.
A. greater; greater B. less; greater C. less; less D. greater; less