Which of the following is a rationale for development planning?
(a) government failure.
(b) market failure.
(c) failure of consumers to understand their preferences.
(d) all of the above are rationales for development planning.
(e) none of the above are rationales for development planning.
B
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Under majority rule, the order in which items are voted on is
a. unimportant, and this is a lesson of the Condorcet paradox. b. unimportant, and this is a lesson of Arrow's impossibility theorem. c. important, and this is a lesson of the Condorcet paradox. d. important, and this is a lesson of Arrow's impossibility theorem.
In a representative democracy, there are
A. elected politicians. B. public employees. C. special interests. D. all of these answer options are correct.
The Fed purchases $1 million of U.S. government securities from First Bank. The desired reserve ratio is 10 percent, the currency drain ratio is zero, and banks loan all excess reserves
The Fed's purchase increases First Bank's excess reserves by how much? A) $900,000 B) $1,000,000 C) $1,100,000 D) $10,000,000 E) $100,000
When output price rises, the long run increase in labor input will be larger than the short run increase in labor input.
Answer the following statement true (T) or false (F)