J. L. Pratt noted of the old General Motors that, "When one of them had a project, why he would get the vote of his fellow members, if they would vote for his project, he would vote for theirs." This is called:

A. hypertension.
B. reneging.
C. logrolling.
D. proposal marketing.


Answer: C

Economics

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An industry whose total output can be increased without a change in long-run per-unit costs is a(n)

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If firms in a monopolistically competitive market are earning economic profits, which of the following scenarios would best describe the change existing firms would face as the market adjusts to the long-run equilibrium?

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