One difference between a hypothetical benevolent king implementing the best policy and the president implementing the best policy in the real world is the president has to be concerned about
a. any misunderstandings in communicating the policy to the public.
b. whether the policy will affect his standing among different groups in the electorate.
c. what amendments will be suggested by members of Congress.
d. All of the above are correct.
d
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Which of the following is true?
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market. B. Southern manufacturers were hurt by the high protective tariffs of the 19th century that kept out cheaper British manufactured goods. C. Agricultural inventions such as John Deere's steel plows greatly improved farm productivity. D. All of the choices are true.
Suppose individuals now believe that there will be an increase in the future expected interest rate. This increase in the expected future interest rate will cause which of the following to occur in the current period?
A) an upward shift of the LM curve B) a leftward shift of the IS curve C) the IS curve to become flatter D) the LM curve to become steeper E) none of the above
Which of the following would be used to cure a defect in title of real property?
a. A mortgage b. A quitclaim deed c. Title insurance d. Contract for purchase and sale
Refer to Figure 10.1. Suppose the individual is initially at point b. Based on the figure, the individual is currently:
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A. a saver, which is his optimal choice.
B. a borrower, which is his optimal choice.
C. a saver, though borrowing would increase his utility.
D. a borrower, though saving would increase his utility.