Central banks that are relatively free from political interference, and are thus ________ likely to be time inconsistent, generally have a ________ record of achieving low inflation
A) more, better
B) more, worse
C) less, better
D) less, worse
C
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When oranges increase in price, the income effect
A) decreases the consumption of oranges only if oranges are a normal good. B) decreases the consumption of oranges only if oranges are an inferior good. C) always increases the consumption of oranges. D) always decreases the consumption of oranges.
Keynesian picture the aggregate demand curve as rather __________, partly because interest rates may be __________ to changes in the real money supply
A) flat; highly responsive B) flat; quite unresponsive C) steep; highly responsive D) steep; quite unresponsive
According to the Census Bureau,
a. a greater percentage of families are below the poverty level now than in 1960 b. a smaller percentage of families are below the poverty level now than in 1960 c. the same percentage of families are below the poverty level now as in 1960 d. the percentage of families below the poverty level has fallen dramatically since 1970 e. 30 percent of families are below the poverty level
"Vote for my special local project and I will vote for yours." This political technique:
A. illustrates the paradox of voting. B. is called "logrolling." C. illustrates the median voter model. D. undermines the benefits-received principle.