Which of the following statements regarding black markets is true?
a. The reliability of products sold in black markets is generally higher than the reliability of products sold in legal markets.
b. The prices of goods in black markets are generally lower than the prices of similar products in legal markets.
c. The laws of supply and demand do not affect the prices of goods exchanged in black markets.
d. The rate of violence is higher in black markets than in legal markets.
D
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A common belief among political analysts is that someone running for his or her party's nomination for president of the United States must choose a different strategy once the nomination is secured
To be nominated, the candidate must appeal to voters from one party—Democrat or Republican—but in a general election a party's nominee must appeal to voters from both parties as well as independent voters. Which of the following offers the best explanation for this change in strategy? A) rent seeking B) the median voter theorem C) the Arrow impossibility theorem D) the voting paradox
GDP is equal to
a. the market value of all final goods and services produced within a country in a given period of time. b. Y. c. C + I + G + NX. d. All of the above are correct.