Budget maximization by bureaus result in a smaller budget than that desire by the median voter
Indicate whether the statement is true or false
false
You might also like to view...
Which of the following is illegal under the Sherman Act? I. A competitor agrees with another competitor on the price at which the product will be sold. II
A manufacturer refuses to supply a retailer who does not accept the manufacturer's guidance on the price. A) only I B) only II C) both I and II D) neither I nor II
Using an example, explain the difference between a labor-intensive technology and a capital-intensive technology
What will be an ideal response?
Two goods must have infinite cross elasticities to be considered as belonging to the same market
Indicate whether the statement is true or false
Suppose Reta is planning for retirement in a two-period world. In the first period Reta is young and earns $1 million, and in the second period Reta is old and retired and earns nothing. The interest rate is initially 10 percent, but then it falls to 7 percent. After the interest rate falls, the
a. substitution effect will induce Reta to consume more when she is young. b. substitution effect will induce Reta to consume less when she is young. c. income effect will induce Reta to consume more when she is young. d. change in interest rates affects the substitution effect but not the income effect.