When majority rule voting is used to determine whether to purchase a public good,
A) the efficient outcome is not assured.
B) the median voter gets her way.
C) the sum of the marginal benefits is ignored.
D) All of the above.
D
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If at the current level of product-specific service, consumers' value at $50 and the cost of retailers to provide the services is $55, which of the following is true?
A) the profit-maximizing level of profit-maximizing services is less than the current level B) the profit-maximizing level of profit-maximizing services is greater than the current level C) the profit-maximizing level of profit-maximizing services is exactly double the current level D) the profit-maximizing amount of product-specific services is being offered.
Discuss the determinants of a nation's exchange rate value for its currency in foreign exchange markets. What happens to a nation's balance of trade if the nation's currency appreciates? Why?
To convert nominal economic data from several different years into real, inflation-adjusted data, the starting point is to choose a ____________ year.
a. base b. future c. past d. compliant
The demand for loanable funds is downsloping:
A. because businesses find that more investments are profitable at low interest rates than at high interest rates. B. because households are willing to save more at high interest rates than at low interest rates. C. only when the nominal interest rate exceeds the real interest rate. D. because the amount of profitable business investment varies directly with the interest rate.