The fact that interest groups exist on both sides of an issue mean that _____
a. no special interest group gets everything it wants
b. rational ignorance is nonexistent
c. a prisoner's dilemma exists
d. politicians are exposed to all viewpoints on an issue
a
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If the cost of the CPI market basket at current period prices is $275 and the cost of the CPI market basket at base period prices is $350, the CPI is
A) 275. B) 79. C) 100. D) 350. E) 127.
Shifts in the supply of oil have caused large changes in price since the 1970s because
A) both the supply of oil and the demand for oil are inelastic over short periods of time. B) the supply of oil and the demand for oil are perfectly elastic over short periods of time. C) the supply of oil is very inelastic while the demand for oil is very elastic over short periods of time. D) the supply of oil is very elastic while the demand for oil is inelastic over short periods of time.