_____ is the exchange of political support on one issue for political support on another issue
a. Logrolling
b. Market exchange
c. Agenda control
d. Rent seeking
a
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Answer the following statement(s) true (T) or false (F)
1. If the demand curve for a good is relatively flat, a small change in price results in a relatively large change in quantity demanded 2. If safer cars reduce a driver's chance of dying in an accident, then there will be fewer driver fatalities. 3. If one wants to apply the theoretical side of economics by examining data, they use a family of statistical techniques called econometrics. 4. A sales tax causes the demand curve to shift upwards by the amount of the tax. 5. As defined by economists, the supply of corn refers to the number of bushels of corn that farmers bring to the market.
If the shifts in AD that will result from policy changes are fully and accurately anticipated, an increase in government purchases or a decrease in taxes would result in which of the following in the short run?
a. a higher level of real output and a higher price level b. a higher level of real output but no change in the price level c. a higher price level and a reduced level of real output d. a higher price level but no change in real output
The graphs below show an economy of two people with identical incomes in two years. They have different preference patterns as shown. Why is the market for loanable funds not in equilibrium?
What will be an ideal response?
What can objectively be determined by looking at the current federal tax rates?
a. They are fair. b. They are unfair. c. They are regressive. d. They are progressive.