In a political democracy,
(a) only the voting majority is protected but the minority is coerced to protect the majority.
(b) the population minority is free to organize and to lobby to achieve goals.
(c) there is no unequal distribution of income or wealth.
(d) the minority can elect officials.
(b)
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If investment increases by $100, then the aggregate expenditure model concludes that equilibrium expenditure
A) increases by $100. B) increases by less than $100. C) decreases by $100. D) remains unchanged. E) increases by more than $100.
To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. Referring to the above figure, how much tax per unit has the government imposed?
A) cb B) db C) ab D) ca
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap.
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Economic historians identify which invention as a major factor that started the Industrial Revolution in Britain?
A. Steam engine B. Automobile C. Telephone D. Electric motor