Rent seeking is the act of obtaining special treatment by ________ to create ________
A) a monopoly; consumer surplus
B) the government; economic profit
C) consumers; a monopoly
D) the government; consumer surplus
E) competitive producers; a monopoly
B
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A curve that depicts the relationship between price and quantity demanded is the:
a. supply curve. b. supply schedule. c. demand curve. d. equilibrium price.
When equilibrium is present in the foreign exchange market, which of the following will tend to be in balance?
a. the value of goods exported and the value of goods imported b. real and nominal interest rates c. imports plus capital outflow and exports plus capital inflow d. tax revenues and government expenditures
Countries that use the Anglo Saxon model tend to use civil law
a. True b. False
A business organization owned and operated by a group of individuals for their mutual benefit:
a. cooperative b. corporation c. trade association d. limited partnership e. sole proprietorship