The second phase of the industrial revolution first took place in ______ (a country) in the _______ (decade).
Fill in the blank(s) with the appropriate word(s).
the United States; 1920s
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A stronger U.S. dollar leads to ________ in SRAS and ________ in AD simultaneously
A) a leftward shift; a leftward shift B) a rightward shift; a leftward shift C) a rightward shift; a rightward shift D) a leftward shift; a rightward shift
________ are inducements to act in certain ways
Fill in the blank(s) with correct word
The median voter model
A) works well in the area of trade policy. B) is not intuitively reasonable. C) tends to result in biased tariff rates. D) does not work well in the area of trade policy. E) is not widely practiced in the United States.
Tom carries on loud cellphone conversations in public places. He values such conversations at $1 per minute. Steve prefers piece and quiet. He would pay $2 per minute to avoid overhearing Tom's conversations. In this situation
a. Tom should quit using his cellphone because that would be a Pareto improvement b. Tom should quit using his cellphone because that would be efficient c. If Steve made a side payment of $3 to Tom, that would be a Pareto improvement d. If Steve paid Tom 50 cents per minute to quit talking, that would be a Pareto improvement e. If Steve paid Tom $1.50 per minute to quit talking, that would be a Pareto improvement