Which of the following hypotheses about voter behavior have been advanced in public-choice literature?
a. Voters are myopic
b. Unemployment is more likely to result in vote loss than is higher inflation
c. Deficit bias of the budget process
d. Both a and c
e. All of the above
E
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An appreciation of the U.S. dollar is most likely a result that
A) more dollars are required to obtain foreign currencies. B) the Fed has pursued an expansionary monetary policy. C) U.S. interest rates have increased. D) U.S. bond prices have increased.
Robert is participating in a Dutch auction. If he values the item being auctioned at $5,500 and there are 5 bidders in total, what should Robert's optimal bidding strategy be?
What will be an ideal response?
A business can be operated profitably at a loss for an indefinite period of time
A) if it is unable to meet all their obligations but able to cover operating costs. B) if we neglect the social costs of discriminatory pricing. C) for firms that enjoy special legal privileges. D) if costs are calculated as marginal opportunity costs.
Which of these is a drawback of forming an internal reference group and using the group average to assess normal performance?
A. Explicit employee collusion that tends to hold down the benchmark. B. Shirking among supervisors. C. Forced distributions D. High influence cost incurred by employees