Category: Economics

An electoral system in which parties gain seats in proportion to the number of votes cast for them is know as what?
Proportional Representation
Checks and balanaces
Separation of Powers
Federalism

If the expected rate of inflation were to increase from 3% to 4%, the IS curve (3) ____
Choice 1 of 3: remains stationary
Choice 2 of 3: shifts to the left
Choice 3 of 3: shifts to the right

If the price of cheese used to make macaroni and cheese _____, then the supply of macaroni and cheese will _____.
increases; not change
increases; increase
decreases; decrease
increases; decrease

If the United States limited the quantity of Mexican tequila that could be brought into the country for the next five years, this is called a(n) _____.
exchange control
tariff
embargo
import quota

hat is producing output at the lowest possible total cost of production per unit called?
Multiple choice question.
Marginal efficiency
Minimum efficiency
Allocative efficiency
Productive efficiency

When GM advertises its cars, the company is trying to cause a.
a. Rightward shift in the demand
b. Leftward shift in the demand
c. Rightward shift in the supply
d. Leftward shift in the supply