One potential outcome of vote trading would be ______.
a. the disappearance of political parties
b. the elimination of the influence of special interests
c. special interests prevailing and harming the overall good
d. equal representation for all people
c. special interests prevailing and harming the overall good
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According to supply-side economics, a(n) ________ in the tax rate tends to increase the labor supply and ________ aggregate output
A) decrease; decrease B) increase; decrease C) increase; increase D) decrease; increase
The largest single transfer program at the federal level is unemployment insurance.
Answer the following statement true (T) or false (F)
The consumer price index is
a. a measure of the increase in the average price of all of the goods that are included in the calculation of GDP. b. a comparison of the cost of buying a typical bundle of goods during a given period with the cost of buying the same bundle during an earlier base period. c. the ratio of the average price of a typical market basket of goods compared to the cost of producing those goods during the previous year. d. a comparison of the cost of the typical bundle of goods consumed in period 1 with the cost of a different bundle of goods typically consumed in period 2.
Mexico is
a. a poor country, and over the past century its rate of economic growth has been higher than that of the United States. b. a poor country, and over the past century its rate of economic growth has been lower than that of the United States. c. a middle-income country, and over the past century its rate of economic growth has been higher than that of the United States. d. a middle-income country, and over the past century its rate of economic growth has been lower than that of the United States.