In general, the medium voter model can be described as a powerful model for _____
a. analyzing demand for public goods
b. analyzing the dynamics of business cycles
c. analyzing demand aggregation in a democracy
d. analyzing the supply of politicians
c
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The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find. B) that investors will be more optimistic about the economy. C) that stock prices are more likely to fall. D) it is more likely that an incumbent president will be re-elected.
One cost associated with the imposition of taxes is:
A. deadweight loss. B. scarcity. C. shortages. D. overconsumption.
A reduction in the required reserve ratio has the instant effect of:
a. Increasing the monetary base. b. Increasing total bank reserves c. Increasing excess reserves. d. Increasing bank shareholders' equity. e. Decreasing bank shareholders' equity.
The Federal Reserve System performs many functions but its most important one is:
A. Issuing currency B. Controlling the money supply C. Providing for check clearing and collection D. Acting as fiscal agent for the U.S. government