The voting system for most elections in the United States is called:
A. first-past-the-post voting.
B. pair-wise majority voting.
C. instant runoff voting.
D. approval voting.
Answer: A
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Gordon characterizes Modigliani as a prominent activist yet several implications of his life cycle hypothesis support the non-activists. One of these implications is
A) transitory increases in income associated with the business cycle are not expected to last a lifetime so current consumption is relatively stable. B) permanent increases in income associated with the business cycle are not expected to last a lifetime so current consumption is relatively stable. C) transitory increases in income associated with the business cycle are not expected to last a lifetime so current consumption is relatively unstable. D) transitory increases in income associated with the business cycle are to last a lifetime so current consumption is relatively stable.
___________ is a tendency or a disposition to expect the best outcome or to think hopefully about a situation
a. Negativism b. Capitalism c. Optimism d. Accommodation
Suppose that the quantity of hamburgers is measured along the vertical axis and that the number of bags of popcorn is measured along the horizontal axis. The budget constraint has a vertical intercept of 10 hamburgers, and the slope of the line is -1. If
the price of popcorn doubles, we know that A) the consumer will buy half as many bags of popcorn as before. B) the new equilibrium will have a marginal rate of substitution of -2. C) the new equilibrium will have a marginal rate of substitution of -0.5. D) the vertical axis of the budget line shifts to 5 hamburgers.
Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. 
Figure 16.1 Refer to Figure 16.1. The ________ imposed as a result of producing the market (unregulated) level of fertilizer is $300.
A. marginal private cost B. total damage C. marginal social cost D. tax