Logrolling consists of
A) exchanging votes to gain support for legislation.
B) spreading the costs of a piece of special interest legislation over many millions of people.
C) attempts directed at slowing down the growth of rational ignorance.
D) increasing taxes on some people and lowering taxes on other people.
E) none of the above
A
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After a $3 per-unit tax on seeing movies in theaters is imposed, attendance falls from 4,000 a week to 3,000 a week. The revenue from the tax is
A) less than $9,000 a week. B) $9,000 a week. C) between $9,000 a week and $12,000 a week. D) some amount that cannot be calculated without more information.
If the deficit is 0.02 times GDP, the existing debt—GDP ratio is 0.5, and the growth rate of nominal GDP is 0.03, then the change in the debt—GDP ratio is
A) +0.05 B) +0.025. C) 0. D) -0.025.
If a firm is earning zero economic profit, then its accounting profit will:
A. decrease in the long run. B. increase in the long run. C. be positive. D. be negative.
The demand curve for labor of a monopolist
A) is horizontal even though the demand curve for labor for a competitive firm is downward sloping. B) slopes down for the same reason as the demand curve for labor of a perfectly competitive firm. C) slopes down because of the law of diminishing marginal product and because the monopolist must lower prices to sell additional units of the good. D) slopes upward because monopolists use more capital than do perfectly competitive firms.