Government action will often result in the counterproductive use of resources because
A) voter participation is low; if more people voted the political process would be more efficient.
B) many politicians are not interested in how their legislative votes will influence their chances of winning future elections.
C) politicians are often unwilling to listen to interest groups that have specialized knowledge.
D) there is often a conflict between winning political elections and adoption of only productive programs.
D) there is often a conflict between winning political elections and adoption of only productive programs.
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The notion that equally situated individuals should be taxed equally is referred to as
a. horizontal equity. b. vertical equity. c. the benefits principle. d. the Gini principle.
One major component of money supply M1 is part of a bank's:
A. Assets B. Reserves C. Liabilities D. Net worth
A bank can lend out its excess reserves but not its required reserves
a. True b. False Indicate whether the statement is true or false
Which of the following groups makes it a point to emphasize that inflation occurs when the annual rate of growth of the money supply exceeds the annual rate of growth of full- employment real GDP?
a. the classical school b. the Keynesian school c. the neo-Keynesian school d. the rational expectations school e. supply-siders