The long-run effects of an increase in the saving rate include
a. a higher level of productivity.
b. a higher growth rate of productivity.
c. a higher growth rate of income.
d. All of the above are correct.
a
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What is the term that explains why voters often lack knowledge of pending legislation, and lack knowledge of the views of candidates for office on a range of issues that affect their own (the voters') welfare?
A) rational ignorance B) regulatory capture C) the voting paradox D) logrolling
Firms should lower the prices on their goods
a. If the demand for the product is elastic b. If it acquires a firm selling a complement good c. If it acquires a firm selling a substitute good d. Both a and b
When a supply curve is relatively flat, the
a. sellers are not at all responsive to a change in price. b. equilibrium price changes substantially when the demand for the good changes. c. supply is relatively elastic. d. supply is relatively inelastic.
What is income redistribution?
What will be an ideal response?