According to public choice theorists, people in the market sector and people in the public sector behave differently because
A) people in the two sectors have different motives.
B) the two sectors have different institutional arrangements.
C) government employees do not act in their own self-interest.
D) there are economies of scale in the market sector.
B
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The short-run Phillips curve shows the relationship between the inflation rate and the unemployment rate when ________ remain(s) constant
A) fiscal policy B) the natural unemployment rate and the expected inflation rate C) monetary policy D) interest rates E) aggregate demand
Marginal analysis involves undertaking an activity
A) only if its marginal costs are greater than its marginal benefits. B) until its marginal costs start declining. C) until its marginal benefits equal marginal costs. D) only when its marginal benefits are positive.
An closest example of a risk-free security is
a. General Motors bonds b. AT&T commercial paper c. U.S. Government Treasury bills d. San Francisco municipal bonds e. an I.O.U. that your cousin promises to pay you $100 in 3 months
What are the possible costs of a service failure?
a. Back orders b. Lost suppliers c. Lost sales d. Lost customers e. All of the above f. Only A, C, and D