Centrally planned economies have historically been more damaging to the environment than capitalist ones.
Answer the following statement true (T) or false (F)
True
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Suppose a vote was taken in a small town of 11 people to determine how much of the budget should go toward education spending. Five individuals want 10 percent, five individuals want 80 percent and one person wants 25 percent. According to the median-voter theorem, the chosen amount to spend on education will be ______ of the budget.
A. 10 % B. 80 % C. 45 % D. 25%
Some reasons that firms may experience diseconomies of scale include
a. the firm is too small to take advantage of specialization b. large management structures may be bureaucratic and inefficient c. if there are too many employees, the work place becomes crowded and people become less productive d. having more employees doesn't mean there will be more raw materials to use in production e. average fixed costs begin to rise again
Economists expect the relationship between consumption and disposable income to be
a. unpredictable. b. transitory. c. fixed. d. inverse e. stable.
The demand for loanable funds curve shows the ________ relationship between the market interest rate and the quantity of loans demanded
a. positive b. negative c. direct d. independent