Individual accountability within the government bureaucracy:
A. tends to be greater than in private firms, making government more efficient than private firms.
B. is not a problem because government bureaucrats are not affected by the self-interest that
affects private sector individuals.
C. is easy to monitor because of the small size and scope of government.
D. tends to be lacking because of civil service protections and the complexity of government.
Answer: D
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According to this Application, if you earn a salary of $40,000 in the first year and all prices triple in the next 10 years, what will your nominal annual salary be in 10 years?
A) $20,000 B) $60,000 C) $120,000 D) $180,000
The existence of marginal social benefits which are not marginal benefits for the industry producing the import substitutes
A) is an argument supporting free trade and non-governmental involvement. B) is an argument supporting the use of an optimum tariff. C) is an argument supporting the use of market failures as a trade-policy strategy. D) is an argument rejecting free trade and supporting governmental involvement. E) is an argument rejecting the domestic market failure concept.