The political process might negatively affect government attempts to stabilize an economy by ______.
a. collecting policy information
b. catering to special interests
c. having a long-term view
d. assisting local businesses
b. catering to special interests
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In a market system, ____ distributes goods among consumers in accord with their tastes and preferences, using voluntary exchange to determine who gets what.
A. a price system B. a regulatory framework C. a democratic government D. a closed system
According to the BEA, in the second quarter of 2012 purchases of new residential structures rose by 8.9 percent. Using the expenditure approach, this change increases
A) gross private domestic investment. B) government expenditure on goods and services. C) net exports of goods and services. D) personal consumption expenditures.
A tax on a product will yield little revenue if
a. supply is elastic b. supply is inelastic c. demand is inelastic d. demand is elastic e. no tax in a developing country will yield significant revenue
If Bart has budget constraint A in the graph shown, what would cause his budget constraint to shift to B?
This graph shows three different budget constraints: A, B, and C.
A. Bart's income has decreased.
B. The price of soda has increased.
C. The price of soda has decreased.
D. The price of milk has increased.