Bureaucratic capture is:
A. a specific avenue through which corruption and rent-seeking can occur.
B. when government positions are filled with people who have close ties to the group they are supposed to regulate.
C. a source of bias or personal sympathy that interferes with efficiency.
D. All of these are true.
D. All of these are true.
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The figure above shows a monopoly firm's demand curve. If the price and quantity of haircuts move from point t to point r, the monopoly's
A) total revenue will rise. B) total revenue will fall. C) total revenue will remain the same. D) marginal revenue will decrease.
Based on the Taylor Principle, a central bank's endogenous response of raising interest rates when inflation rises
A) causes an upward movement along the monetary policy curve. B) causes a downward movement along the monetary policy curve. C) shifts the monetary policy curve upward. D) shifts the monetary policy curve downward.
A question on an economics exam asks: What happens in the market for margarine when income rises? Allison, an excellent student, shows the demand for margarine decreasing. Is she necessarily wrong? Why or why not?
One way to attain a faster rate of economic growth would be to shift some resources from the production of _________ goods to the production of __________ goods.
Fill in the blank(s) with the appropriate word(s).