Other things being equal, the demand curve for low-skilled workers ________ the demand curve for high-skilled workers.
A) lies below
B) lies above
C) is the same as
D) is not comparable to
E) at high wages lies below and at low wages lies above
Answer: A) lies below
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Hotelling's model has been used to describe differentiation in the political "market." Suppose that 100 voters are evenly distributed between the extreme left and the extreme right on the political spectrum, and that all voters vote, and they always vote for the candidate closest to them on this spectrum. The numbers on this spectrum represent the number of voters lying to the left of the number. So, at the midpoint, fifty voters lie to the left and fifty to the right. At the extreme right end, all 100 voters lie to the left. 
If Candidate X is running against Candidate Z, by moving to the right Candidate X would:
A. force Z to move farther to the right in order to keep the same number of votes. B. not lose any votes from voters on the left and gain some votes from Z. C. lose some votes from voters on the far left but gain approximately the same number of votes from Z. D. win the election if the move placed X anywhere to the right of 25 on the spectrum.
Federal transfers are expected to grow significantly in the coming decades, due especially to increases in ________
A) federal government consumption B) federal deficits C) Medicare and Medicaid D) Social Security payments
What is the Ricardian equivalence proposition?
a. Governments change their spending/savings to offset private households spending/saving. b. Governments and private households change their spending and saving decisions in the same direction. c. Private households change their spending/saving to offset government spending/saving. d. Private households do not take government spending/saving into consideration when making decisions.
Use the following table to answer the question below. Number of UnitsTotal Utility110021903270434054006450The addition of which unit has the greatest marginal utility?
A. first B. second C. fifth D. sixth