Competition can be beneficial in the public sector because _____
a. it leads to governments going out of business
b. comparison gives some clue as to whether a government is operating efficiently
c. it eliminates a prisoners' dilemma problem
d. a and c
b
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The main reason for the high price of antiques is that
A. supply is relatively inelastic and demand tends to increase over time. B. supply is relatively elastic and demand tends to increase over time. C. demand is relatively inelastic and supply tends to increase over time. D. demand is relatively elastic and supply tends to increase over time.
Which of the following factors affect a country's net foreign investment?
a. real interest rates paid on foreign assets b. real interest rates paid on domestic assets c. government policies that affect foreign ownership of domestic assets d. all of the above e. none of the above
How does technology relate to a seller’s input prices?
a. An efficient technology can often lower input prices. b. An efficient technology can often raise input prices. c. An inefficient technology can often lower input prices. d. An inefficient technology can often eliminate input prices.
The ________ sought to reduce the federal deficit by $36 billion each year between 1987 and 1991.
A. McCain-Feingold bill B. Sherman Antitrust Act C. Cellar-Kefauver Act D. Gramm-Rudman-Hollings Act