Candidates in a two-person race express very similar positions a few weeks before the election. A voter complains that there is not much difference between the two candidates. What this voter misunderstands or ignores is that
A) each candidate has an incentive to be like the other.
B) each candidate has an incentive to be different from the other.
C) each candidate has an incentive to be perceived as in the "middle of the road," and if both candidates correctly act on this incentive they will end up sounding alike.
D) this simply happens sometimes.
E) none of the above
C
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Real GDP per person equals average labor productivity:
A. times one minus the unemployment rate. B. times the share of population employed. C. times the labor force participation rate. D. minus the share of population employed.
Fiscal expansion
A) stimulates aggregate demand and causes output to decline. B) decreases aggregate demand and causes output to decline. C) stimulates aggregate demand and causes output to rise. D) decreases aggregate demand and causes output to rise. E) decreases government expenditures.
Abnormal net income is similar to economic profit
Indicate whether the statement is true or false
The ability to produce the same quantity of a good or service using fewer units of labor is known as
A) competitive dominance. B) productive dominance. C) comparative advantage. D) absolute advantage.