Suppose everyone in a town prefers spending on improved public transportation systems instead of public parks, and prefers spending on public parks instead of building a public zoo. An ideal voting system would ensure that:
A. public transportation spending could beat zoo funding.
B. zoo funding could beat public transportation.
C. public parks could beat transportation spending.
D. zoo funding could beat public parks.
A. public transportation spending could beat zoo funding.
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A plot of points representing the rate of inflation and the unemployment for the United States since 1953 reveals that
A) there does not appear to be any trade-off between the two variables. B) there is an inverse relationship between the two variables. C) there is a positive relationship between the two variables. D) none of the above.
How is economic profit calculated?
What will be an ideal response?
The U.K Bribery Act is ________ harsh than the U.S. Foreign Corrupt Practice Act (FCPA) as all facilitating payments ________ illegal.
A) more; are not B) more; are C) less; are D) less; are not
Suppose our firm produces chartered business flights with capital (planes) and labor (pilots) in fixed proportion (i.e., one pilot for each plane)
If the wage rate paid to the pilots increases relative to the rental rate of capital for the airplanes, then: A) the optimal capital-labor ratio should increase. B) the optimal capital-labor ratio should decrease. C) the optimal capital-labor ratio remains the same. D) We do not have enough information to answer this question.