The proper short-run goal of macroeconomic policymakers is to
A) amplify the business cycle.
B) dampen the business cycle.
C) promote high economic growth.
D) maintain low economic growth.
B
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Hotelling's model has been used to describe differentiation in the political "market." Suppose that 100 voters are evenly distributed between the extreme left and the extreme right on the political spectrum, and that all voters vote, and they always vote for the candidate closest to them on this spectrum. The numbers on this spectrum represent the number of voters lying to the left of the number. So, at the midpoint, fifty voters lie to the left and fifty to the right. At the extreme right end, all 100 voters lie to the left. 
Suppose Candidate X is running against Candidate Y. If Candidate Z enters the race:
A. all of the voters who were going to vote for Y will now vote for Z. B. X will win because Y and Z will be competing for the same voters. C. approximately half of the voters who were going to vote for X will now vote for Z. D. most of the voters who were going to vote for Y will now vote for Z.
Refer to Figure 18.2. The opportunity cost of producing fishing poles in Macadamia is
A) 3/4 of a spear. B) 5/6 of a spear. C) 6/5 spears. D) 4/3 spears.
The 1920 census reported that ________ percent of Americans were urban dwellers
a. just over 10 b. approximately 20 c. more than 50 d. 75
When a good is taxed, the deadweight loss is larger the more elastic are demand and supply
a. True b. False Indicate whether the statement is true or false