A government that uses a bureau rather than a private firm to provide some good or service
a. may have less opportunity for officials and legislators to reward friends and supporters with jobs
b. will always incur higher costs of production
c. will lose the ability to make decisions via the hierarchy of the market
d. may be better able to control details of production
e. will not be able to sell the good or service after it is produced
D
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New York Times writer Michael Lewis wrote that "The sad truth, for investors, seems to be that most of the benefits....are passed through to consumers free of charge." To which of the following did Lewis refer?
A) the Enron accounting scandal B) apple farming in New York state C) new technologies developed in the 1990s D) the medical screening industry
Refer to Figure 29-1. Suppose that the U.S. government deficit causes interest rates in the United States to rise relative to those in the European Union. Assuming all else remains constant, how would this be represented?
A) Supply would decrease, demand would decrease and the economy moves from B to C to D. B) Demand would increase and the economy moves from A to B. C) Demand would decrease and the economy moves from B to A. D) Supply would increase, demand would decrease and the economy moves from C to B to A.