Romolo is seeking elected office. In his district, he finds that most people are not strongly politically opinionated, but that very liberal people slightly outnumber very conservative people. What would be the best way for him to approach and win the election?
a. Run as a very conservative underdog.
b. Run as a very liberal candidate.
c. Run as a slightly liberal moderate.
d. Run as a slightly conservative moderate.
c. Run as a slightly liberal moderate.
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The concept of private property is
A) a legal absolute. B) a matter of degree. C) a moral absolute. D) an invention of economists.
Which of the following will cause the net export function to shift?
a. A change in real GDP b. An increase in government spending c. An increase in investment spending d. A change in the exchange rate e. A change in the domestic interest rate
Which of the following events would unambiguously cause an increase in the equilibrium price of cotton shirts?
a. an increase in the price of wool shirts and a decrease in the price of raw cotton b. a decrease in the price of wool shirts and a decrease in the price of raw cotton c. an increase in the price of wool shirts and an increase in the price of raw cotton d. a decrease in the price of wool shirts and an increase in the price of raw cotton
A commission-paid shoe salesman must decide whether to work hard or shirk. Working hard would increase the probability of a sale from 20% to 40% but would cost him $20 . If the salesman is paid a $40 commission per sale and a $20 fixed salary and is under monitoring where he would get fired if he doesn't work hard, what would he choose to do?
a. Work hard b. Shirk c. Walk away from the job d. None of the above