If it is assumed that people vote for the candidate who comes closer to matching their own views, then
A) candidates will label themselves as right-wingers.
B) candidates will label themselves as left-wingers.
C) candidates will label their opponents as middle-of-the-roaders.
D) candidates will discuss the means to accomplishing ends.
E) a candidate who is trailing in the polls will modify his or her position to become more like his or her opponent.
E
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In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. At this point there is
A) an inflationary ga
For a common resource, the equilibrium with no government intervention is such that ________ is less than ________
A) marginal private cost; marginal social benefit B) marginal social benefit; marginal social cost C) marginal private benefit; marginal social benefit D) total social benefit; total social cost
The market process avoids creative destruction
Indicate whether the statement is true or false
Suppose that the widget industry has a Herfindahl-Hirschman index of 1,200 . Two firms have proposed a merger. Firm A has a current market share of 5 percent. Firm B has a market share of 7 percent
Will the Justice Department challenge the merger? Explain.