Public choice analysis suggests that the primary motivating factor for politicians will be finding the policies that are most likely to
a. get them reelected.
b. improve economic efficiency.
c. improve the welfare of society as a whole.
d. anger the interest groups that provide substantial contributions to their campaigns.
A
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Because of the adverse selection problem
A) good credit risks are more likely to seek loans causing lenders to make a disproportionate amount of loans to good credit risks. B) lenders may refuse loans to individuals with high net worth, because of their greater proclivity to "skip town." C) lenders are reluctant to make loans that are not secured by collateral. D) lenders will write debt contracts that restrict certain activities of borrowers.
As the number of firms in a Cournot oligopoly ________, the equilibrium quantity gets closer to the ________ equilibrium quantity.
A) decreases; perfectly competitive B) increases; monopoly C) increases; perfectly competitive D) decreases; monopolistically competitive