A general rule of political economy in a democracy is that when small groups are helped by a government action and large groups are hurt by that action by an equal and offsetting amount, policies tend to reflect:
A. the small group's interest.
B. neither group's interest over the other.
C. the large group's interest.
D. the interest of a free market.
Answer: A
Economics
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Assets minus liabilities equal:
A. current income minus spending on current needs. B. wealth. C. saving. D. investment.
Economics
Two firms compete as a Stackelberg duopoly. The demand they face is P = 100 ? 3Q. The cost function for each firm is C(Q) = 4Q. The outputs of the two firms are:
A. QL = 16; QF = 8. B. QL = 12; QF = 8. C. QL = 24; QF = 12. D. QL = 20; QF = 15.
Economics