The median voter rule says that the government will make choices that reflect the preferences of the voters whose preferences are held by at least 51% of the voters.
Answer the following statement true (T) or false (F)
False
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All things equal, the price elasticity of supply
a. will be greater in the short run than in the long run. b. will be greater in the long run than in the short run. c. is the same for the short run and the long run. d. approaches zero in the long run.
Which was a decade of high inflation and high unemployment?
A. the 1920s B. the 1950s C. the 1960s D. the 1970s
The ________ is the rate of change of the ________.
A. rate of inflation; CPI B. current year price index; base year price index C. CPI; rate of inflation D. base year price index; current year price index
Assuming that the Ricardian equivalence theorem is TRUE, which of the conditions below will hold?
A. Investment spending will not be considered part of aggregate demand. B. The long-run aggregate supply curve will not be vertical. C. Exports will not be considered part of aggregate demand. D. An increase in the government budget deficit will not affect aggregate demand.