Producers tend to be better represented in lobbying efforts and other elements of the political process than consumers because
a. producers are generally more intelligent and, therefore, better informed.
b. producers are generally better organized than consumers.
c. producers are better educated than consumers.
d. the number of producers affected by the outcome of a particular political issue is usually greater than the number of consumers affected.
B
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Output supply curves always slope up in the one-input model.
Answer the following statement true (T) or false (F)
The free movement of financial capital is desirable for all countries
Indicate whether the statement is true or false
Which of the following is a difference between the theories of John Maynard Keynes and the classical economists?
a. Unlike Keynesian economists, classical economists believed that unemployment was a serious long-term problem. b. Unlike Keynesian economists, classical economists advocated that the economy was always in equilibrium. c. Unlike Keynesian economists, classical economists believed that the economy would always settle at full employment. d. Unlike Keynesian economists, classical economists did not believe that the economy was always in equilibrium. e. Unlike Keynesian economists, classical economists believed a glut created an unemployment problem for the economy.
If price elasticity is greater than one, then demand is said to be elastic
Indicate whether the statement is true or false