Which of the following is not an incentive bureaucrats have to increase the size of their budgets?
a. They can increase their income by having a higher budget.
b. Increased budgets mean more power and prestige.
c. Higher budgets are necessary to maximize scale efficiencies.
d. A nice working environment is positively correlated with a higher budget.
c
Economics
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A credit market instrument that requires the borrower to make the same payment every period until the maturity date is known as a
A) simple loan. B) fixed-payment loan. C) coupon bond. D) discount bond.
Economics
If asset A is a risky asset yielding 10 percent and asset B is a riskless asset with the same maturity with a yield of 8 percent, investors would
A) prefer asset A. B) prefer asset B. C) be indifferent between the two assets. D) None of the above.
Economics