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.
b
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The Fed tries to prevent major financial crises through its control of financial markets
a. True b. False Indicate whether the statement is true or false
Which of the following is not a defining characteristic of globalization?
a. Increased cross-border flow of trade in goods b. Increased cross-border flow of trade in services c. Increased international mobility of information d. Increased frequency of wars e. Increased mobility of individuals across borders
Data show that in the U.S. since 1915, the velocity of M1 money
a. has been highly stable at approximately 24 b. has increased at about 3 percent per year c. has been erratic, varying between about 2 and 6 d. increased steadily until the 1960s, then decreased sharply thereafter e. has stayed fairly constant at approximately 4
Assume an economy is incurring unemployment. The effect of resolving this problem will be to:
A. move the level of actual output on to the economy's production possibilities curve. B. create a less equal distribution of income. C. shift its production possibilities curve to the left. D. shift its production possibilities curve to the right.