Legislators facing a close electoral contest will tend to favor
A) policies with benefits greater than costs for everyone.
B) policies with benefits greater than costs for the majority.
C) policies with benefits in the near future and deferred costs.
D) policies representing the public interest.
C
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The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $4 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
The United States produces more services than goods
Indicate whether the statement is true or false
Why does the PPF bow outward and what does that imply about the relationship between opportunity cost and the quantity produced?
What will be an ideal response?
The faster the rate of technological progress: a. the greater the rate of economic growth
b. the slower the rate of economic growth. c. the greater the rate of population growth. d. the slower the rate of growth of the money supply.