Legislators who must stand for re-election every two years will tend to support
A) policies beneficial to all the people eligible to vote.
B) policies beneficial to all the people now living.
C) policies beneficial to all present voters and future generations of voters.
D) policies promising early benefits and deferred costs.
E) policies representing the public interest.
D
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The representative consumer's discount factor B
A. equals the share of production going to labor B. is a parameter capturing how patient the consumer is C. is a choice parameter controlling consuming versus saving D. is the reduction in price from a competitive factor market
"If firms in an oligopoly operate as a monopoly, the industry produces the most output and if they operate as perfect competitors, the industry produces the least output." Is the previous statement correct or incorrect? Why?
What will be an ideal response?