Cyclical majorities can occur when _____
a. voters have single-peaked preferences
b. voters are rationally ignorant
c. voters are irrationally ignorant
d. voters do not have single-peaked preferences
d
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What is the limitation of using exchange rate-based measures as indicators of the standard of living across countries?
What will be an ideal response?
A bubble occurs when
A) the price of a stock is above its fundamental value. B) inside information is used to make profits from trading a company's stock. C) a company reports profits that are significantly above or below the expectations of financial analysts. D) the futures price is greater than the price of the underlying asset.
Why is it NOT surprising that men make up the minority of college graduates?
a. Because of discrimination against women, men are able to get good jobs with only a high school degree. b. Men are smarter than women and they do not need a higher education to be attractive to employers. c. Given their greater physical strength, many men accept high-paying but physically demanding jobs instead of going to college. d. Many men decide to pursue jobs in professional sports and this significantly reduces the number of males who go to college.
Which of the following is an example of an adverse supply shock?
a. a decrease in the money supply b. a tax cut c. a worldwide drought d. decreased government spending