Which of the following best defines total wealth?
A) financial wealth only
B) financial wealth and housing wealth only
C) human wealth only
D) non-human wealth and human wealth
E) none of the above
D
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If inflation expectations decline, then the short-run Phillips curve shifts
a. left, so that at any inflation rate unemployment is lower in the short run than before. b. right, so that at any inflation rate unemployment is lower in the short run than before. c. right, so that at any inflation rate unemployment is higher in the short run than before. d. left, so that at any inflation rate unemployment is higher in the short run than before.
The median voter rule says that the government will make choices that reflect the preferences of the voters whose preferences are held by at least 51% of the voters.
Answer the following statement true (T) or false (F)