A decrease in the overall price level is
A. a price index.
B. deflation.
C. a recession.
D. inflation.
Answer: B
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Households receive transfers from ________ and firms receive transfers from ________
A) government; government B) firms; households C) government; government and households D) firms and government; government E) government; no one
Public choice theory suggests politicians will be most likely to favor redistribution of income from
a. the rich to the poor. b. unorganized taxpayers to well-organized interest groups. c. middle-income taxpayers to both the rich and the poor. d. well-organized businesses and labor groups to consumers.
Mandatory expenditures
What will be an ideal response?
The higher the concentration ratio, the
a. more control an individual firm has to set prices. b. more competitive the industry. c. less competitive the industry. d. Both a and c are correct.