The Field of Political Economy

question 428

Multiple Choice

The field of political economy

• A)casts aside most of the standard methods of economic analysis.
• B)is also referred to as the field of public choice.
• C)is also referred to as the field of macroeconomics.
• D)produces the conclusion that democratic principles rarely lead to desirable economic outcomes.

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Definitions:

Quoted Price

The ongoing price tag attached to buying or selling a service or asset.

Selling Price

The amount of money a customer pays to purchase a product or service.

Market Interest Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.

Contractual Interest Rate

The interest rate stated on the face of a loan or bond agreement, which represents the percentage of interest that the borrower must pay to the lender.