An ideal voting system will not function if a ________ is present, and has the power to enact his or her own preferences.
A. bully
B. representative
C. dictator
D. consul
Answer: C
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Using an equation, explain why governments prefer to avoid excessive current account surpluses?
What will be an ideal response?
Jennifer is the only employee of her sole proprietorship. She is entertaining the idea of hiring an additional employee. She knows that on her own she can produce 100 units per day
Jennifer figures that Applicant A will help her produce 175 units per day whereas Applicant B will help her produce 155 units per day. Which of the following statements is most accurate? A) Applicant B has a marginal product of 75 units. B) Applicant B has an average product of 77.5 units. C) Applicant A has a marginal product of 75 units. D) Applicant A has an average product of 87.5 units.
Gross domestic product (GDP) includes:
a. used goods sold in the current time period. b. only final goods and services. c. foreign goods as well as domestically produced goods. d. intermediate as well as final goods.
The result of market failure is waste or lost surplus.
Answer the following statement true (T) or false (F)