Which of the following will be categorized as an intermediate good in national income accounting?
a. The value of oregano used as a seasoning for pizzas
b. The crops consumed by a farmer's family members
c. The present value of a car produced a couple of years ago
d. A clunker sold during the current year
e. The value of an antique piece of jewelry handed down over generations in a family
a
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According to the J curve, the rapid depreciation in the dollar from 1985 to 1987 caused net exports to
A) rise in the short run and fall in the long run. B) rise in the short run and rise further in the long run. C) fall in the short run and rise in the long run. D) fall in the short run and fall further in the long run.
When applied to committees, the median voter model concludes that _____
a. becomes irrelevant as committees will be unable to select a clear outcome b. the committee selects the outcome preferred by the median voter c. when preferences are double peaked, the committee meets the demand of the median voter d. a cyclical majority will emerge, if voters are irrational