A public choice theorist would be most likely to say that government failure is a consequence of the
A) actions of selfish and corrupt politicians.
B) rational behavior of the participants of the political process.
C) irrational behavior of voters.
D) irrational behavior of special interest groups.
B
Economics
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Which of the following does NOT cause a shift in the supply curve for labor in an industry?
A) Worker tastes and preferences B) Population of the concerned region C) Opportunity costs faced by the workers D) Price of the final good that the labor is used to produce
Economics
If real GDP is greater than potential GDP, then:
A. the output gap is negative. B. the actual unemployment rate is lower than the natural rate of unemployment. C. the actual unemployment rate equals zero. D. the actual unemployment rate is greater than the natural rate of unemployment.
Economics