The theorem that suggests that politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions is called the:
A. average voter theorem.
B. mid-voter theorem.
C. median-voter theorem.
D. moderate vote theorem.
C. median-voter theorem.
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How would a decrease in price of Blu-Ray movies affect the demand for Blu-Ray players?
A. Decrease the demand B. Increase the demand C. Increase in supply D. Increase in quantity demanded
The public choice model raises questions about the government's ability to regulate economic activity efficiently. Which of the following statements represents the views of most economists with regard to the role of government?
A) U.S. citizens can afford more government regulation if the cost of this regulation is borne mostly by taxpayers with the highest incomes. B) Government should do more to regulate markets. The public choice model has shown that rent seeking and rational ignorance affect more markets than are currently subject to regulation. C) Agencies such as the Food and Drug Administration and the Environmental Protection Agency can serve a useful purpose, but we need to take the costs of regulation into account along with the benefits. D) Congress should abolish the Food and Drug Administration, the Environmental Protection Agency, and other agencies and commissions because the costs of their actions exceed the benefits they provide to the public.
Collin has lost his job with a telemarketing company, which has moved its operation to India. Collin is considered
A) structurally unemployed. B) frictionally unemployed. C) seasonally unemployed. D) a discouraged worker.
What is the future value of $100 in 2 years that earns an annual interest rate of 5 percent?
A) $110.41 B) $102.25 C) $110.25 D) $105.50