Economic theory assumes elected representatives in government vote
A) in the public interest.
B) without any interest.
C) in their own interest.
D) in complete harmony with the interests of the majority of citizen-voters.
C
You might also like to view...
Can nominal GDP ever be less than real GDP?
What will be an ideal response?
The long-run average total cost curve
a. is an envelope-shaped curve mapped out by the short-run average total cost curves for alternative plant sizes. b. intersects the minimum point of each short-run average total cost curve for alternative plant sizes. c. rises throughout its entire range when increasing returns are present. d. falls throughout its entire range due to the law of diminishing returns.
Refer to the accompanying figure. At a price of $9, there will be:
A. an excess demand of 1 unit. B. an excess supply of 5 units. C. an excess demand of 5 units. D. an excess supply of 6 units.
In Keynes's view, an excess quantity of money demanded causes people to:
A. sell bonds and the interest rate rises. B. buy bonds and the interest rate falls. C. buy bonds and the interest rate rises. D. increase speculative balances.