"My opponent in this election says she wants a balanced federal budget, but won't say how it would be achieved." This candidate is trying to
A) challenge his or her opponent's commitment to balancing the budget.
B) get his or her opponent to say something that will allow a label of "left-wing" or "right-wing" to be attached on her.
C) accuse the opponent of going exclusively after the median voter, who is never interested in ends, only means.
D) accuse the opponent of going after the votes of the rationally ignorant.
B
You might also like to view...
If workers and firms raise their inflation expectations,
A) unemployment will fall. B) the short-run Phillips curve will be vertical. C) the short-run Phillips curve will shift upward. D) actual inflation will fall to match expected inflation.
Summing the value added of all firms yields the value of final goods and services produced because both measures:
A. are adjusted for population growth. B. use constant prices. C. exclude the value of intermediate goods and services. D. exclude the value of capital goods.
A binding rent-control price ceiling results in all of the following EXCEPT:
A. inefficiently low quantity of the good exchanged. B. inefficient allocation of the good to consumers. C. wasted resources of consumers caused by time spent searching for the good. D. inefficiently high quality of the good being sold.
Based on your understanding of the Phillips curve, is it possible for the unemployment rate to increase while inflation increases? Explain
What will be an ideal response?