Plurality voting ________ the ideal voting-system criteria.
A. fails one of
B. meets all
C. fails all of
D. fails two of
Answer: A
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When U.S. real GDP increases, U.S. imports
A) increase by more than the change in real GDP. B) decrease by less than the change in real GDP. C) decrease by the same amount. D) increase by less than the change in real GDP. E) increase by the same amount.
Which would be a normative economic statement?
a. Retail sales were flat last month and continue on their downward trend b. Prices are increasing at a rate of 3 percent a year c. This administration should raise taxes to pay for childcare programs d. The poverty rate hit a new high last year
Given a linear demand function of the form QXd = 500 - 2PX - 3PY + 0.01M, find the inverse linear demand function assuming M = 20,000 and PY = 10.
A. PX = 500 - 2QX - 3PY + 0.01M. B. PX = 335 - 0.5QX. C. PX = 500 - 2QX. D. PX = 335 - 2QX.
In the basic aggregate demand - aggregate supply model, an increase in government purchases will in the short run lead to ______ in real GDP and ______ in the price level.
Fill in the blank(s) with the appropriate word(s).