Constitutional Economists

question 53

Multiple Choice

Constitutional economists

• A) assert that within a given set of institutions,constraints,laws and rules,outcomes might be the same no matter who is elected to office.
• B) study the type of constraints that individuals might seek to place upon themselves in order to achieve some objective that doesn't seem achievable in a non-constrainable environment.
• C) assert that better outcomes arise from changing the political party in power at any given point in time than from changing institutions and constraints.
• D) b and c
• E) a and b

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Definitions:

Inventory

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials to be consumed in the production process.

Purchases Discount

A reduction in the cost of goods or services, granted by the seller to the buyer, when the buyer pays within a specified time frame.

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt quick payment or bulk purchases.

Trade Discounts

Reductions in the listed price of goods and services, offered by sellers to buyers in the business-to-business market.