Some economists contend that government agencies are generally less efficient than private businesses due to the following reasons, except:
A. Government bureaucracies do not face the profit motive, which is a major incentive that guides private firms
B. Government bureaucrats tend to deal with failing programs by putting more resources into the programs
C. Incompetent workers gravitate towards government, while motivated workers gravitate towards the private sector
D. Bureaucrats, along with the special-interest groups they serve often have enough political clout to keep their agencies going regardless of performance
C. Incompetent workers gravitate towards government, while motivated workers gravitate towards the private sector
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The one organization that has the power to change the total amount of reserves in the banking system is the
A) Executive Branch of the Federal Government. B) U.S. Treasury. C) Federal Reserve System. D) Congress.
Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy. B) China's transition strategy was considered gradualist. C) Russia chose a rapid transition strategy. D) Russia's transition was aided by the large number of workers it had in heavy industry. E) China's transition was aided by the large number of workers it had in rural agriculture.
In his book The Other Path, de Soto suggests that countries will grow more quickly if bureaucratic barriers to free enterprise are reduced.
Answer the following statement true (T) or false (F)