The so-called pork-barrel politics refers to congressional members:
A. Trading votes with one another
B. Receiving perks and freebies from businesses trying to sway their votes
C. Paying close attention to the vocal special interest groups
D. Inserting provisions for local narrow projects into comprehensive legislation
D. Inserting provisions for local narrow projects into comprehensive legislation
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A natural monopoly regulated with an average cost pricing rule is ________
A) efficient and incurs an economic loss B) inefficient and makes zero economic profit C) inefficient and makes an economic profit D) efficient and makes zero economic profit
Everything else held constant, an increase in the riskiness of bonds relative to alternative assets causes the demand for bonds to ________ and the demand curve to shift to the ________
A) rise; right B) rise; left C) fall; right D) fall; left
A monopolistically competitive firm is one:
A. of a small number of firms that sell products that are close but not perfect substitutes. B. of many firms that all sell the exact same product. C. that behaves like a monopolist. D. of many firms that sell products that are close but not perfect substitutes.
Using the above figure, the perfectly competitive firm in the diagram will earn an economic profit if the market price is
A. P1. B. P2. C. P3. D. P4.