According to the partisan theory,
a. politicians are viewed as working only for their own welfare.
b. there are two parties with flexible goals.
c. moderates and liberals often switch political goals.
d. macroeconomic policy is not a key focus of most politicians.
e. none of the above.
A
Economics
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Suppose money supply (M) = $500, real GDP (Y) = $1,000, and nominal GDP = $5,000. Calculate the value of velocity and the price level.
A) V=2;P=1 B) V=4;P=5 C) V=10;P=5 D) V=10;P=1
Economics
If the price elasticity of demand is less than 1, then consumer demand is
A) unrelated to the elasticity of demand. B) inelastic. C) elastic. D) unitary elastic.
Economics