If the president begins making laws that citizens must abide by or be punished based on the opinion of the president, this is called the:
A. rule of man
B. rule of one
C. rule of force
D. rule of law
Answer: A
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Barry Bonds and Jennifer Lopez have which of the following in common?
A) Neither of them faces the problem of scarcity. B) Each of them acts solely in the public interest. C) Each of them chooses to advance some projects over others. D) None of the above.
A speculator who believes strongly that interest rates will rise would be likely to
A) buy futures contracts on Treasury bills. B) sell futures contracts on Treasury bills. C) buy Treasury bonds in the spot market. D) increase now the amount of money which he lends.
Central banks sometimes attempt quantitative easing when
A) money growth is too high. B) inflation is too high. C) there is a liquidity trap. D) inflation is too low.
Empirical studies have found that the labor supply curves for most parts of the population are
A) backward bending. B) upward sloping. C) downward sloping. D) nearly vertical.