Elected officials and government employees:
a. are agents of the people
b. always act in the best interest of the people, even at the expense of their own interest
c. both of the above
d. neither of the above
Answer: a. are agents of the people
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Critics of an equal distribution of income argue that the effect would be to reduce the incentive to be productive
a. True b. False Indicate whether the statement is true or false
In reality international trade is determined solely by comparative advantage and the free market forces of supply and demand
a. True b. False Indicate whether the statement is true or false
Questions that address the cause-and-effect analysis of actions and their consequences are
A. positive questions. B. normative questions. C. not testable. D. subjective.
If the government wishes to decrease GDP by $2,000b, and the MPC is 0.6, it should:
A. increase its spending by $800b. B. decrease its spending by $800b. C. decrease its spending by $1,200b. D. increase its spending by $1,200b.