Special-interest groups, such as the pharmaceutical lobby, often get what they demand because
a. politicians are rationally ignorant
b. voters are rationally ignorant
c. they engage in logrolling
d. they represent the median voter
e. none of the above
B
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Refer to the figure above. What is the domestic production of calculators in Barylia, once the economy opens up to free trade?
A) 10 units B) 30 units C) 60 units D) 100 units
During which period were government budget deficits quite large, but there was no corresponding surge of private saving?
a. in the mid-1970s b. in the mid-1980s c. in the mid-1990s d. in the mid-2000s
(Consider This) Suppose that salsa manufacturers sell 2 million bottles at $3.50 in one year and 3 million bottles at $3 in the next year. Based on this information, we can conclude that the:
A. law of supply has been violated. B. law of demand has been violated. C. demand for salsa has increased. D. supply of salsa has increased.
If there are four firms in an industry and each has a 25 percent market share, then the Herfindahl-Hirschman Index equals
A. 2,500. B. 2,800. C. 5,000. D. 6,600.