One factor hastening the demise of the Soviet Union was _____. a. its military alliance with Cuba b. its attempt to keep up with the United States in an arms race c. its inability to predict the optimal amount of defense spending d. its strong economic output ANSWER b
Date: September 9th, 2020
The above figure shows three demand curves labeled D1, D2, and D3. Rank these three demand curves in terms of elasticity at a price of c. What will be an ideal response? ANSWER First, compare D1 to D2. Moving from price a to price c, dQ/dp = Q/(c – a). Elasticity equals Q/(c – […]
Date: September 9th, 2020
The _____ of an income tax comes from the _____ effect. a. excess burden; substitution b. excess burden; income c. excess benefits; substitution d. excess benefits; income ANSWER a
Date: September 9th, 2020
Which of the following statements is an example of agenda control? a. A governor vetoes a concealed carry law. b. A state legislature puts on the ballot a $500 million high-tech infrastructure initiative. c. A state education department implants a federal education law. d. A private citizen sues to prevent her home being taken through […]
Date: September 9th, 2020
Adding members to a military alliance _____ a. will always strengthen the alliance b. will cause the alliance to dissolve c. might weaken the alliance d. will always weaken the alliance ANSWER c
Date: September 9th, 2020
Military force is most effective _____ a. when a country’s army has superior numbers b. when a country’s navy is superior c. if it causes the other side to back down d. if it causes the other side to waste resources ANSWER c
Date: September 9th, 2020
If everyone could participate in the logrolling process at low cost, _____. a. then logrolling would allocate resources efficiently b. the political benefits to politicians would fall c. political exchange would no longer be important d. decision-making costs would be astronomical ANSWER a
Date: September 9th, 2020
Increased United States military expenditures and action in response to the terrorist attacks of September 11, 2001 suggest that military officials in the United States _____. a. could not wait to go to war b. view the War on Terror as a negative externality c. believe that military expenditures can act as a deterrent d. […]
Date: September 9th, 2020
Tax paid on income from a rental property represents _____. a. a consumption tax b. double taxation c. progressive taxation d. estate taxation ANSWER b
Date: September 9th, 2020
The legislature is equivalent to a political market because _____. a. legislators are akin to price takers b. policies can be bought and sold c. legislators can be bought and sold d. logrolling allows legislators to trade amongst themselves ANSWER d
Date: September 9th, 2020
