When decisions are made by majority rule, elected officials have a strong incentive to
What will be an ideal response?
take resources from taxpayers and use them to provide favors for various voting blocs in exchange for contributions and other forms of political support.
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If duopolists colluded but then stopped colluding,
a. price and quantity would rise. b. price would rise and quantity would fall. c. price would fall and quantity would rise d. price and quantity would fall.
Which of the following is a major import for the United States?
A) corn B) soybeans C) coal D) fish E) none of the above
According to the theory of comparative advantage, a country
A. exports goods in which it has absolute advantage. B. imports the goods in which it has a comparative advantage. C. imposes tariffs on goods in which it does not have comparative advantage. D. exports the goods in which its has a comparative advantage.
As a consumer buys more of a good, total utility eventually becomes negative
a. True b. False