Which of the following is a predictable side effect of increased government activity (for example, taxes and subsidies) designed to redistribute income among citizens?
a. improvement in the operational efficiency of government agencies
b. rapid economic growth
c. a reduction in the amount of lobbying
d. an increase in rent-seeking activity
D
Economics
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As the price of a product falls, the demand for the product increases, ceteris paribus.
Answer the following statement true (T) or false (F)
Economics
Suppose that the elasticity of demand for hamburgers is 2.5 and price decreases by 14%. By what percentage will quantity demanded for hamburgers increase?
A. 2.5% B. 5.6% C. 25% D. 35%
Economics