Nathan does not vote because he feels as he does not have a real choice. To him, "all politicians are exactly the same." Which of the following statements might lend some credence to Nathan's observation?
a. In a representative democracy, politicians must appeal to the median voter if they hope to be successful.
b. In a representative democracy, politicians are uniformly graduates of Ivy League schools.
c. In a representative democracy, politicians exclusively come from wealthy families.
d. In most representative democracies, individuals similar to Nathan do not vote and thus are not represented in the political process.
a
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An increase in the monetary base that goes into currency is ________, while an increase that goes into deposits is ________
A) multiplied; multiplied B) not multiplied; multiplied C) multiplied; not multiplied D) not multiplied; not multiplied
Because of the relationship between a perfectly competitive firm's demand curve and its marginal revenue curve, the profit maximization condition for the firm can be written as
A) P = MR. B) P = AVC. C) AR = MR. D) P = MC. E) P = AC.
Which of the following statements is correct?
A) Utility and usefulness are synonymous. B) The marginal utility derived from successive units of a product tends to be similar for all consumers. C) Because utility is not measurable, the utility-maximizing rule provides no useful insights as to consumer behavior. D) A product may yield utility, but not be functionally useful.
What is marginal revenue?
What will be an ideal response?