Which of the following statements best summarizes the essence of public choice analysis?
a. Public choice analysis applies economic principles to political science issues
b. Public choice analysis applies political science principles to traditionally economic issues.
c. Public choice analysis assumes that government leaders are primarily motivated by what is best for the community, unlike private interest groups.
d. none of the above
a
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The unemployment rates during the last 10 years in the Eurozone was
A) constantly lower than the unemployment rate in the United States and not rising toward the U.S. unemployment rate. B) constantly lower than the unemployment rate in the United States but were rising toward the U.S. unemployment rate. C) more or less constant at 3 percent. D) generally higher than the U.S. unemployment rate. E) approximately equal to those in the United States, with some years the U.S. unemployment rate being slightly higher and in other years the U.S. unemployment rate being slightly lower.
According to its advocates, what are four advantages product differentiation and advertising provide to consumers?
What will be an ideal response?
A tax on imports equal to a percentage of the cost of those imports is known as
a. a specific tariff b. an ad valorem tariff c. a tax on luxury goods only d. an effective quota e. an ad valorem quota
If demand is inelastic and the government decides to raise the tax on water, the price of water will increase by a ________ amount and water consumers will bear a ________ share of the tax.
A. large; large B. large; small C. small; large D. small; small