The Consumer Price Index (CPI) is a(n) _________
A) ratio that is based on market values that is used by insurance companies to set rates on businesses
B) government comparison of prices across major department stores
C) total of all annual sales in the private retail sector
D) index of prices for goods and services regularly traded in the U.S. economy
E) government-issued tool for fixing prices in the private sector
D
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Which is an argument for the use of public opinion polling to set public policy?
a. Americans tend to support government policies that make their economic positions worse. b. Most Americans do not know what goes on in the world. - c. In a democracy, the people must have their voice heard by those in government. d. Repeated surveys of the same Americans have found that their responses to policy questions seem to change randomly.
A court order to a public official to perform an act that is legally required is called a(n)
a. subpoena. b. injunction. c. writ of mandamus. d. writ of certiorari. e. stare decisis.
One significant problem with the implementation of supply-side economic policies under both Reagan and George W. Bush was that
A. the federal deficit was allowed to drop too low, resulting in an inflationary economy. B. decreased government spending lowered the demand for goods, offsetting the effect of tax rebates. C. government spending was allowed to increase despite declines in government revenues. D. promised tax cuts were never delivered, leading to a decline in consumer confidence. E. the American people are not generally supportive of lowering taxes.
Under the system of federalism, ________
a. only the federal government has exclusive powers b. only state governments have exclusive powers c. power is unlikely to be concentrated in one level of government d. only state governments act directly upon the people e. states can band together in trade zones with special tariffs