Congressman A promises to vote for a bill that Congressmen B and C are sponsoring, and in return both B and C promise to vote for a future bill that A is sponsoring. This practice is called
A) cutting "red tape."
B) chasing the median voter.
C) rational ignorance.
D) logrolling.
D
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The trade-off between risk and expected value is exactly the kind of choice you have to make whenever you think about investing money in:
A. stocks. B. retirement funds. C. bonds. D. One needs to think about the trade-off to invest in all these things.
Suppose a city that operates local electric and natural gas companies wants to raise revenues by increasing its rates for electricity and natural gas. The price rise will increase city revenues if the elasticity of demand for electricity and natural gas is
a. inelastic. b. elastic. c. negative. d. equal to -1.
According to the open-economy macroeconomic model, import quotas increase which of the following
a. net exports and net capital outflow b. net exports but not net capital outflow. c. net capital outflow but not net exports. d. neither net exports nor net capital outflow.
In deriving the aggregate demand curve from the aggregate expenditures model, we note that:
A. the real-balances effect is irrelevant to both models. B. a change in the price level will have no impact on the aggregate expenditures schedule. C. an increase (decrease) in the price level shifts the aggregate expenditures schedule upward (downward). D. an increase (decrease) in the price level shifts the aggregate expenditures schedule downward (upward).