Which of the following stands true of corruption?
a. Payment of money or gifts in order to receive a government service or benefit is a widespread practice only in less-developed countries.
b. Corruption reduces growth most directly through government investment in projects with high productivity.
c. Corrupt governments spend less on capital goods than governments that are less corrupt.
d. The more competitive a country's markets are, the fewer the opportunities for corruption.
e. Private investment is relatively higher in countries in which government expenditure is very high.
d
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What is the best outcome for society: When firms in an oligopoly operate as a monopoly or when they act as perfect competitors? Briefly explain your answer
What will be an ideal response?
Refer to Figure 15-11. In the dynamic model of AD-AS in the figure above, the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues policy. This will result in
A) unemployment rates higher than what would occur if no policy had been pursued. B) real GDP lower than what would occur if no policy had been pursued. C) short-term interest rates higher than what would occur if no policy had been pursued. D) inflation higher than what would occur if no policy had been pursued.
"Taxes are what we pay for a civilized society." This statement was made by
A) Herbert Hoover. B) Adam Smith. C) Franklin Roosevelt. D) Oliver Wendell Holmes.
According to the monetarists, government intervention can stabilize the economy and minimize the effect of business cycles
a. True b. False Indicate whether the statement is true or false