A citizen who acquires good information about the candidates before voting in a presidential election thereby
A) imposes spillover costs on all other registered voters.
B) increases the probability others will also acquire information before voting.
C) incurs a substantial cost; yet, his vote no discernible effect on the election.
D) makes it much more likely a candidate will be elected who will promote that voter's interests.
E) makes it much more likely a good candidate will be elected.
C
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A Pigouvian subsidy
a. cannot achieve an efficient outcome b. is a per-unit payment on a good that is set equal to the marginal external benefit at QE c. achieves efficiency as long as it is set equal to the MEC at the competitive output level d. lowers the MPB vertically by the amount of the subsidy
For the past 40 years the Federal Reserve has expressed policy in terms of a target value for:
A. open market operations. B. bank reserves. C. the Federal Reserve discount rate. D. the federal funds rate.
According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
A) increases in the price level result in lower real balances. B) higher current output results in higher desired investment. C) higher prices result in higher levels of spending as consumers attempt to stay ahead of inflation. D) businesses have difficulty in distinguishing relative price increases from general price increases.
When money is used to compare the relative price of an apple and an orange, money is being used as a _______ .
A) medium of exchange. B) store of value. C) measurement of inflation. D) unit of account. E) token of bartering.