Despite the fact that most votes have virtually no impact on the outcome of a vote, and knowing people incur opportunity costs to vote, we recognize that people vote for all of the following reasons except they:
A. feel pressure to fulfill their civic duty.
B. altruistically decide to contribute to the democratic process by voting.
C. get utility from participating in a civic event.
D. are obligated legally to do so.
D. are obligated legally to do so.
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The Fed is
A) shielded from political pressure. B) officially independent from the federal government. C) staffed by Congressmen who are biased toward monetary expansion. D) responsible for minting coins and collecting taxes.
Refer to Figure 16-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely pursue
A) expansionary fiscal policy. B) expansionary monetary policy. C) contractionary fiscal policy. D) contractionary automatic stabilizers. E) contractionary monetary policy.