Consistent with the mercantilist theory, the colonies had (a) ...

[erika]

Consistent with the mercantilist theory, the colonies had
 
  (a) a trade deficit with England.
  (b) a trade surplus with England.
  (c) a balance of trade with England.
  (d) about an equal number of annual trade deficits and surpluses over the years.

Question 2

Which of the following hypotheses about voter behavior have been advanced in public-choice literature?
 
  a. Voters are myopic
  b. Unemployment is more likely to result in vote loss than is higher inflation
  c. Deficit bias of the budget process
  d. Both a and c
  e. All of the above

[Pamela.irrgang@yahoo.com]

Answer to Question 1

(a)

Answer to Question 2

E

[erika]

Excellent

[phuda]

Thanks for the timely response, appreciate it