What are the functions of “checks and balances”?
A. to limit "excessive democracy"
B. to give each branch of government power and influence over the other branches
C. to regulate interstate commerce
D. to ensure a balanced budget
Ans:
A. to limit "excessive democracy"
B. to give each branch of government power and influence over the other branches
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The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire and that ________ pay most of the tax
A) $30; buyers B) $40; buyers C) $30; sellers D) $60; sellers E) $60; buyers
Monetary policy has no effect on equilibrium income when the
A) LM curve is positively sloped. B) IS curve is negatively sloped. C) IS curve is vertical. D) IS curve is horizontal.
The slope of an indifference curve reveals:
A) that preferences are complete. B) the marginal rate of substitution of one good for another good. C) the ratio of market prices. D) that preferences are transitive. E) none of the above
Yvonne takes out a fixed-interest-rate loan and then inflation turns out to be higher than she had expected it to be. The real interest rate she pays is
a. higher than she had expected, and the real value of the loan is higher than she had expected. b. higher than she had expected, and the real value of the loan is lower than she had expected. c. lower than she had expected, and the real value of the loan is higher than she had expected. d. lower then she had expected, and the real value of the loan is lower than she had expected.