The median voter model could most accurately be described by the phrase ______.
a. “the squeaky wheel gets the grease”
b. “choose the road less taken”
c. “one day at a time”
d. “keep it in the middle of the road”
d. “keep it in the middle of the road”
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From the economic point of view, what does a professor who posts her syllabus on the Internet and a restaurant that posts its menu outside have in common?
A) They are attempting to exploit others. B) They are reducing competition. C) They are expanding the range of opportunities available to others. D) They are solely in it for the money.
Because policies in the United States were too expansionary from 1965 through 1973, the U.S. suffered
A) demand-pull inflation. B) cost-push inflation, as workers sought higher wages in order to keep up with inflation. C) both demand-pull and cost-push inflation. D) neither demand-pull nor cost-push inflation.
By 2010, the U.S. economy had emerged from the recession that had begun in 2007. Despite an economic growth rate well above zero, unemployment showed little sign of declining much below ten percent
Focusing on the definition of the unemployment rate, explain how it is possible to have positive economic growth without declining unemployment.
If a demand curve shifts, we know that
A) the price of the good itself is not a factor. B) the price of the good itself is a factor. C) the price of the good and supply are the major factors. D) the price of the good and demand are major factors.