When politicians support policies that benefit small interest groups, such as farmers, at the expense of unorganized, widely dispersed groups, for example, taxpayers or consumers, this is a reflection of the
a. tragedy of interest.
b. special-interest effect.
c. unorganized interest effect.
d. shortsightedness effect.
B
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If an overvalued currency is allowed to float:
A) its quantity demanded in exchange for the other currency will decrease. B) its quantity supplied in exchange for the other currency will increase. C) its value will depreciate. D) its value will appreciate.
The Federal Reserve considers any business with less than __________ employees to be "small."
A) 10 B) 100 C) 500 D) 1500
In a market with perfectly competitive firms, the market demand curve is usually ____ and the demand curve facing each individual firm ____
a. upward sloping; horizontal b. downward sloping; horizontal c. horizontal; downward sloping d. downward sloping; downward sloping
The primary reason we think of inflation as bad even when wages rise with it is that it:
What will be an ideal response?