When voters have different opinions about an issue, the position that is most likely to be adopted is that of the:
A. Lobbyist
B. Logroller
C. Rent-seeker
D. Median voter
D. Median voter
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Let C = 70 + 0.75y and I = 40. Assume no government or foreign sectors. Investment needs to increase by ________ to increase equilibrium output by a total of $600
A) $30 B) $150 C) $560 D) $600
Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
a. The quantity of eggs demanded will increase. b. Egg demand will decrease. c. Egg supply will increase. d. Egg supply will decrease.
The short-run effects of a favorable supply shock will include
a. an increase in the general level of prices and a decrease in real output. b. an increase in the general level of prices and an increase in real output. c. a decrease in the general level of prices and a decrease in real output. d. a decrease in the general level of prices and an increase in real output.
Elected officials and government employees:
a. are agents of the people b. always act in the best interest of the people, even at the expense of their own interest c. both of the above d. neither of the above