Equilibrium in the market for special interest benefits is determined where _____
a. the marginal cost of lobbying politicians is equal to the marginal benefits received from government
b. the marginal political opposition is equal to the marginal political support
c. the marginal price of a vote for a program is equal to the marginal benefit of that additional vote
d. the marginal price of regulation is equal to the marginal benefit from that regulation
b
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The economy's ability to coordinate economic activity is hindered by
A) auction prices. B) workers whose wages change quickly. C) sticky wages causing sticky prices. D) all of the above.
Which of the following is an example of marginal analysis?
a. a fast food restaurant that only serves lunch and dinner trying to determine if it should open for breakfast. b. a company looking at its total costs of production. c. a worker calculating his total income. d. an economist analyzing total output for the U.S. economy.
The stated interest rate on a loan is the
A) nominal interest rate. B) real interest rate. C) actual inflation rate. D) expected inflation rate.
Expansionary monetary policy is achieved by:
A) decreasing the amount of bank reserves and lowering the federal funds rate. B) decreasing the amount of bank reserves and raising the federal funds rate. C) increasing the amount of bank reserves and lowering the federal funds rate. D) increasing the amount of bank reserves and raising the federal funds rate.