According to this Application, Janet L. Yellen, the Vice-Chair of the Board of Governors, believes that ________ in worldwide demand and ________ of supply were the primary cause of the worldwide increase in commodity prices
A) decreases; shortages B) increases; surpluses
C) increases; shortages D) decreases; surpluses
C
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The diagram used to show one player's strategies across the top and the other player's strategies along the left, with the corresponding outcomes in the appropriate boxes is a
a. game matrix. b. flow chart. c. mixed strategy. d. an oligopoly problem.
The United States imposes tariffs
A) only on imports. B) only on exports. C) on both imports and exports. D) on imports, exports, and nontraded goods.
Which of the following is an assumption of the median voter model?
a. Voters are assumed to have heterogeneous preferences. b. Voters are assumed to be able to place all possible election outcomes within a one-dimensional continuum. c. Voters are assumed to have homogenous preferences. d. Voters are assumed to be able to compare current election outcomes with past election outcome with perfect recall.
In recent years, net interest on the national debt paid by the federal government as a percentage of GDP is equal to approximately:
a. 1 percent. b. 25 percent. c. 6 percent. d. 3 percent.