A rational citizen may decide not to vote __________.
a. but is then behaving in an irrational manner even if they are utility maximizing
b. if the issues are not interesting to them even though the cost of obtaining information and voting are low
c. if the cost of obtaining information about the issues and voting are greater than the chance their one vote will influence the election
d. if the benefits of voting are low or non-existent even when the costs of voting are low
c. if the cost of obtaining information about the issues and voting are greater than the chance their one vote will influence the election
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Which of the following best describes the impact of fiscal policy during the Great Depression?
a. Despite the large increases in government spending as a share of GDP when the New Deal policies were initiated, the expansionary fiscal policy failed to stimulate demand. b. Fiscal policy was focused on monetary expansion, when it should have focused on maintaining a balanced budget. c. It is difficult to link expansionary fiscal policy with economic recovery because government spending and budget deficits were a relatively small portion of GDP prior to the beginning of World War II. d. There is a direct correlation between increases in government spending as a share of GDP and increases in output and employment.
If the rate of job finding rises, the natural rate of unemployment will:
A. remain constant. B. increase. C. decrease. D. rise or decline, depending on the rate of job separation.
When a single tax is imposed, the excess burden is proportional to the compensated elasticity of demand and to the square of the tax rate.
A. True B. False C. Uncertain
Which of the following is not, in general, an aspect of inflation targeting?
A) institutional commitment to a dual mandate B) the public announcement of medium-term numerical inflation targets C) increased accountability of the central bank D) increased transparency of monetary policy