Historically, controlling who was able to vote was an important tool:
A. to attract greater participation in the political system.
B. for those who wanted to keep other groups out of power.
C. to discourage some from participating in policy making.
D. for those seeking to create policy that was beneficial for all.
Answer: B
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It is ________ difficult to effectively time fiscal policy than monetary policy because ________
A) more; fiscal policy can be quickly decided and changed B) more; fiscal policy takes longer to implement C) less; monetary policy takes longer to implement D) less; monetary policy takes longer to decide and change
What can you learn from the figure below (Figure 13-1 from the text) which depicts the U.S. GNP and its components for the year 2009?
What will be an ideal response?
What is the nature of the elasticity of the demand curve faced by perfectly competitive firm?
a. Perfectly inelastic b. Perfectly elastic c. Unit elastic d. Highly elastic
What does the Herfindahl-Hirschman Index value near 10,000 imply about the market?
A. Pure monopoly B. Perfect competition C. Monopolistic competition D. Oligopoly