Which of the following makes it impossible to decide on a majority-approved candidate?
a. Voting cycle
b. Rational ignorance
c. Logrolling
d. Median voters
a. Voting cycle
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In 2012, the House of Representatives voted to have what type of audit of the Fed?
A) auditing of financial statements B) auditing lending policy that took place during the financial crisis of 2007-2009 C) auditing of monetary policy decisions D) auditing of personal finances of members of the Board of Governors
Which of the following is true?
a. In low-income countries, less than 5 percent of those 15 and older were illiterate in 2007 b. In middle-income countries, 17 percent of those 15 and older were illiterate in 2007 c. In high-income countries, 38 percent of those 15 and older were illiterate in 2007 d. Education bears little relationship to economic development in high income countries e. Education is more important to the economic development of low income countries than it is to high income countries
Which of the following refers to business cycles?
a. Variations in the economy that are all equal in intensity b. Seasonal variations in the economy that occur every year c. Fluctuations in economic output that show a declining growth pattern over time d. Periodic but irregular variations in economic activity e. Fluctuations in the profits that businesses in an economy earn over a period of time
The addition to total physical product when one more unit of capital (or loanable funds) is used in production is called
a. marginal physical product of capital b. marginal revenue product of capital c. marginal use of loanable funds d. interest e. depreciation