What level of daily income is the World Bank's measure of extreme poverty?
A. $1.00
B. $3.00
C. $2.25
D. $1.90
Answer: D
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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 for office against Candidate Z, then:
A. all voters to the left of Z will vote for X, and all voters to the right of Z will vote for Z. B. all voters who would have voted for Y will vote for X. C. Candidate X might win. D. Candidate Z will win.
The allocatively efficient amount of pollution prevention would occur when
a. the total social benefits of pollution prevention equals the total social costs of pollution prevention b. the total social costs of pollution prevention are minimized c. the marginal social benefits of pollution prevention equals the marginal social costs of pollution prevention d. none of the above
Contractionary fiscal policy that reduces the budget deficit may:
A. reduce business investment by increasing interest rates. B. increase business investment by increasing interest rates. C. reduce business investment by reducing interest rates. D. increase business investment by reducing interest rates.
Which of the following is typically a result of government licensing requirements?
A. Wages in the licensed occupation fall. B. People in the industry begin to work longer hours and receive lower benefits. C. The number of people working in the industry increases. D. Competition in the licensed occupation is reduced.