When a single candidate is chosen by majority vote in a democracy, the political systems _____
a. tend to become corrupted
b. tend to be two-party systems
c. tend to be one-party systems
d. tend to be three-party systems
b
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If you know the required reserve ratio, then you know how much each bank is holding in reserves
a. True b. False Indicate whether the statement is true or false
Which one of the following people would not be considered a part of the labor force?
a. A steel worker who was laid off last week and is seeking work. b. A steel worker who was laid off last year and is no longer seeking work. c. A student who also works part-time. d. A member of the U.S. Navy. e. A retired college professor paid to teach a summer course.
Requiring all firms to reduce emissions by the same percentage is
a. impossible. b. inefficient. c. inequitable. d. unenforceable under the law.
Profit can be defined as the
a. difference between the sales revenue of a business firm and the opportunity cost of the resources required to produce the goods supplied by the firm. b. difference between a company's income and direct monetary costs of production. c. difference between the price of a product and the consumer's valuation of the good. d. amount of total revenue earned by the firm minus its payments to stockholders.