The median-voter theorem can help explain one reason why politicians tend to change their position on a given issue over the course of an election from:
A. extreme to moderate.
B. moderate to extreme.
C. extreme to more extreme.
D. one extreme to the other.
A. extreme to moderate.
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When a market is in surplus, there is pressure for the price to move upward
a. True b. False Indicate whether the statement is true or false
Which of the following is a characteristic of a competitive price-taker market?
a. Profit maximizing firms in the market will expand output until price equals average variable cost. b. The market demand curve for the product is a horizontal line. c. There are many firms in the market, each producing a small share of total market output. d. The product produced by each of the firms is differentiated.
Which of the following examples illustrates a conglomerate merger?
a. an automobile manufacturer merges with a steel producer b. a food service contractor merges with a search engine c. a soda producer merges with another soda producer d. a shoe retailer merges with a leather producer
Which of the following represents total saving for an economy?
A) the sum of private saving and fixed investment B) the sum of private saving and consumption C) the sum of taxes and government spending D) the excess of taxes over government spending E) none of the above