Congressman Gallstone seeks support from his colleagues for a bill he sponsors that will establish a new national park in his district
He offers to support Congresswoman Disrail's proposal to build a new library in her district in exchange for her vote for his national park bill. This is an example of
A) government failure. B) regulatory capture.
C) rational ignorance. D) logrolling.
D
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A production function assumes a given
A) technology. B) set of input prices. C) ratio of input prices. D) amount of capital and labor. E) amount of output.
Using the equation of exchange, if real output increases by 5 percent per year and velocity is stable, in order to keep the price level stable
A. The interest rate must increase by 5 percent per year. B. The money supply must increase by more than 5 percent per year because nominal output is greater than 5 percent. C. The money supply must increase by 5 percent per year. D. Velocity must increase by 5 percent per year.