The median voter model assumes that voters have single-peaked preferences
a. True b. False
a
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The maximum amount a person is willing to pay today to receive a payment in the future is known as
A) nominal interest. B) present value. C) retained earnings. D) real interest.
If England buys hockey sticks from Canada, then:
A. Canada has the comparative advantage over England in making hockey sticks. B. England has the comparative advantage over Canada in making hockey sticks. C. England has an absolute advantage over Canada in making hockey sticks. D. Canada has an absolute advantage over England in making hockey sticks.
Why are there actually relatively few markets in which there is perfect competition?
(A) Buyers will not pay more for perfect competition. (B) High prices keep companies in the market longer than necessary. (C) Barriers keep companies from entering the market freely. (D) Lack of demand keeps buyers from the market.
Consider the market for the normal good hotdogs. Suppose the number of hotdog consumers increases and the wages of hotdog workers decreases. Once equilibrium is re-established in the market it can be predicted that the equilibrium price of hotdogs will ___
Fill in the blank(s) with the appropriate word(s).