Author Question: Consistent with the mercantilist theory, the colonies had (a) a trade deficit with England. (b) ... (Read 47 times)

erika · **on:** Jun 30, 2018

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