An In the News article titled "Perceptions of Government Failure" implies that people lack confidence in the government. If this is true, it may be due to persistent examples of
A. Merit goods.
B. Market failure.
C. Government failure.
D. Efficiency.
Answer: C
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Use the following demand and supply functions: Demand:Qd = 900 - 60PSupply:Qs = - 200 + 50PLet supply remain constant; an increase in income causes consumers to be willing and able to buy 220 more units at each price than they were previously. The new equilibrium price and quantity are
A. P = $15 and Q = 600. B. P = $10 and Q = 520. C. P = $12 and Q = 400. D. P = $10 and Q = 80.
The Standard & Poor's 500 Index:
A. actually includes more than 500 of the largest corporations in the U.S. B. gives more weight to large companies than small companies. C. assigns equal weight to all the prices of all the stocks in the index. D. is a price-weighted index.
Interest rates are positive mainly because
A) of inflation. B) people tend to prefer the present to the future. C) people tend to prefer the future to the present. D) bankers are greedy.
Legislation that contains a number of projects benefiting local interests at the expense of the general taxpayer is called
a. balanced-budget legislation. b. pork-barrel legislation. c. voucher legislation. d. public-goods legislation.