One important difference between the political process and the market process is that
A) the political process results in collective actions that maximize economic surplus, while the market process may lead to efficiency losses.
B) the political process results in collective actions in which everyone is made better off, while the market process results in actions that favor some groups only.
C) the political process results in collective actions in which not everyone is required to participate, while in the market process individuals are obliged to participate.
D) the political process results in collective actions in which everyone is obliged to participate, while in the market process individuals are free to participate or not.
Question 2
The demand for labor depends primarily on the additional output produced as a result of hiring an additional worker and
A) the additional revenue received from selling the output produced as a result of hiring an additional worker.
B) the payment made to the worker for producing the additional output.
C) the number of workers willing to produce the additional output.
D) the elasticity of demand for the output produced by the worker.
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