If voters lack an economic incentive to become informed about pending legislation, then their preferences become a constraint on legislators voting for rent-seeking legislation
Indicate whether the statement is true or false
FALSE
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Other things remaining the same, a left shift in the supply curve will lead to:
A) a decrease in the equilibrium price and the equilibrium quantity. B) an increase in the equilibrium price and the equilibrium quantity. C) a decrease in the equilibrium price and an increase in the equilibrium quantity. D) an increase in the equilibrium price and a decrease in the equilibrium quantity.
Which statement is true about labor unions in the United States?
A. Overall unions have had no effect on wages, but have created better working conditions. B. They did not gain widespread acceptance until the 1920s. C. The U.S. has virtually the same percentage of its workforce unionized as other industrial nations. D. None of the choices are true of labor unions in the U.S.
Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity If a new production technique is developed that enables a firm to produce 20 units of output with 3 units of land, 3 of labor, 1 of capital, and 2 of entrepreneurial ability, this technique would
What will be an ideal response?
A recession often begins with a(n) ________ in spending by firms on capital goods and a(n) ________ in spending on durable goods by households
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease