Public choice economists hold that politicians will:
A. favor programs entailing immediate and clear-cut costs and vaguely defined or deferred
benefits.
B. follow policies leading to an optimal allocation of resources between public and private
sectors.
C. favor programs entailing immediate and clear-cut benefits and vaguely defined or deferred
costs.
D. objectively weigh the costs and benefits of various government programs and vote
accordingly.
Answer: C
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Techniques for estimating demand curves using direct observations from the marketplace are part of a family of statistical techniques referred to as:
a. legal studies. b. Econometrics. c. policy analysis. d. Economic expansion.
The idea that economic agents do not make systematic errors because they use all information efficiently is called the
A) consistency hypothesis. B) rational expectations hypothesis. C) information efficiency hypothesis. D) principle of maximizing behavior.
Tesla non price competition. Select one industry you are interested in (Tesla)and demonstrate how the existence of non-price competition influences the performance of individual firms operating within the industry. what is the structure of the industry?(oligophy, monopoly, etc.) what are the types of non-price competition that the individual firm and industry have used, both historically and today, and how these methods have influenced product sales of the respective firms.
When an individual's purchasing power changes due to a change in the price of a good or service, this is referred to as
A. real-income effect. B. substitution effect. C. marginal effect. D. utility effect.