Answer the following question based on the graph showing the median voter. If Lucy, who is positioned at VM, took a poll during the election that showed voters were actually a bit more conservative than what is shown on the graph, she would have the best chance of winning by ______.
a. repositioning herself to V1
b. repositioning herself to V2
c. convincing voters her opponent is positioned at V2
d. convincing voters her opponent is positioned at V1
c. convincing voters her opponent is positioned at V2
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Identify the main reason to expect convergence in the long run.
A. Low-productivity countries learning from high-productivity countries B. Rapid growth in the supply of capital in low-productivity countries C. Educational attainment rising quickly in low-productivity countries D. Economic complacency and mismanagement in high-productivity countries
Which of the following is necessarily true of coupon bonds?
A. The price exceeds the face value. B. The price is the sum of the present value of coupon payments and the face value. C. The price is equal to the coupon payments. D. The coupon rate exceeds the interest rate.
Refer to Figure 11-5. Based on the "catch-up line" drawn above, poorer countries are more likely to be at a point like ________, where growth in GDP is relatively ________, while richer countries are more likely to be at a point like ________,
growth in GDP is relatively ________. A) B; low; A; high B) B; high; A; low C) A; high; B; low D) A; low; B; high
The basic difference between macroeconomics and microeconomics is:
A. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade. B. microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms. C. microeconomics concentrates on the behavior of individual consumers, firms, and industries while macroeconomics focuses on the performance of the entire economy. D. microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.