When members of Congress vote to pass new legislation, they will
A) fail to consistently represent the underlying preferences of voters.
B) always vote for the alternative favored by a majority of the voters.
C) always fail to represent the underlying preferences of voters.
D) always vote for the alternative favored by a plurality of the voters if there is no majority position.
A
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The firm depicted in Figure 8.1 is:
A) earning a positive economic profit. B) incurring an economic loss and should shut down. C) incurring an economic loss but it should continue to operate in the short run so long as price exceeds average variable costs. D) earning a zero economic profit.
The FOMC meets approximately eight times per year and at these meetings they
a. set a target federal funds interest rate. b. set a target money supply. c. set a target employment target. d. All of the above e. None of the above
David McClelland, a Harvard psychologist, stressed that individuals vary in their need for ________________
a. Achievement, which he called the "n Ach." b. Acceptance c. Success and happiness d. Positive outcomes
There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage
a. often hurts those people who it is intended to help. b. results in an excess supply of low-skilled labor. c. prevents some unskilled workers from getting needed on-the-job training. d. fails to raise the wage of any employed person.