The median voter rule says that:

A. people "vote with their feet."
B. the median voter will not bother to vote in the election, it is extremists who vote.
C. the median voter never gets what he or she wants in an election.
D. government decisions will reflect the preferences of the median voter.


Answer: D

Economics

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According to the circular flow, the value of total output produced and total income

A) will be equal. B) should increase by the unanticipated rate of inflation. C) should differ by the value of intermediate goods. D) will always be increasing in a capitalist economy.

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Refer to Table 4-4. What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*)?

A) W* = $9.00; Q* = 370,000 B) W* = $9.00; Q* = 740,000 C) W* = $8.50; Q* = 380,000 D) W* = $8.50; Q* = 360,000

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Managers are at the heart of the market process

Indicate whether the statement is true or false

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Which of the following best illustrates the concept of a store of value?

a. You are a precious-metals dealer, and you are always aware of how many ounces of platinum trade for an ounce of gold. b. You sell items on eBay, and your prices are stated in terms of dollars. c. You keep 6 ounces of gold in your safe-deposit box at the bank for emergencies. d. None of the above is correct.

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