Representative democracy works best _____
a. to allocate resources when constitutional rules limit the scope of collective action
b. to equalize income when constitutional rules mandate a simple majority rule for all collective decision-making
c. with a strong executive branch
d. external costs of collective decision-making are extremely high
a
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Consider the market for credit. When the demand for credit decreases while the supply of credit remains unchanged,
A) the interest rate will decrease and the amount of credit provided in the market will increase. B) the interest rate will increase and the amount of credit provided in the market will increase. C) the interest rate will decrease and the amount of credit provided in the market will decrease. D) the interest rate will increase and the amount of credit provided in the market will decrease.
Which of the following factors will not cause the labor demand curve to shift?
A) the wage rate B) changes in technology C) a change in the price of the product produced with labor D) increases in human capital