If the value of a home falls below the amount owed on the mortgage for that property, the house is said to be ________

The legislature is equivalent to a political market because _____

a. legislators are akin to price takers b. policies can be bought and sold c. legislators can be bought and sold d. logrolling allows legislators to trade amongst themselves

At the equilibrium price, deadweight loss is:

a. minimized. b. zero. c. maximized. d. equal to the equilibrium price multiplied by the quantity exchanged.