Most economists agree that the measured unemployment rate tends to ________ the unemployment problem
A) overstate
B) understate
C) accurately represent
D) There is little agreement among economists regarding this issue.
B
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Which of the following is(are) true regarding the median voter model?
a. In majority voting systems, either the right-wing or the left-wing wins, and so the median voter is the only voter guaranteed not to get his/her preferences met. b. In majority voting systems, the median voter is always a part of the losing side, and so no voter wants to be the median voter. c. In majority voting systems, the median voter determines which outcome wins. d. In majority voting systems, the median voter is always a part of the wining side, and so no voter wants to be the median voter.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.