Spending on imports should get ________ GDP, and spending on exports should be ________.
A. subtracted from; included
B. included in; subtracted
C. included in; included as well
D. subtracted from; subtracted as well
Answer: A
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The referendum version of the median voter model allows voters to vote on a series of marginally increasing quantities of a good
a. True b. False
Commitment devices:
A. need strong commitments that are hard to get out of in order to be successful. B. can be successful whether they have strong or weak commitments. C. are never strong commitments that are hard to get out of. D. are only successful if they are weak commitments that are easy to change.
In Figure 15.4, an increase in the money supply from $65 billion to $100 billion will cause the equilibrium rate of interest to
A. Increase from 5 percent to 7 percent. B. Decrease from 7 percent to 5 percent. C. Increase from 3 percent to 5 percent. D. Decrease from 7 percent to 3 percent.
In the labor negotiation game:
a. The payoffs are always higher if you accommodate b. The payoffs are always higher if your opponent accommodates c. The payoffs from accommodating are only higher if your opponent bargains hard d. The payoffs from accommodating are only higher if your opponent accommodates