The median voter model predicts that most successful candidates will choose positions ______.
a. near the extremes of issues
b. near the center of issues
c. slightly more radical than their opponents
d. on the basis of conviction more than popularity
b. near the center of issues
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Consumers are willing to purchase a product up to the point where
A) the marginal benefit of consuming the product equals the area below the supply curve and above the market price. B) the marginal benefit of consuming a product is equal to its price. C) the marginal benefit of consuming the product is equal to the marginal cost of consuming it. D) the consumer surplus is equal to the producer surplus.
The nominal exchange rate is 4 Saudi Arabian riyals, 8 Moroccan dirham, 60 Indian rupees, or .8 euros per U.S. dollar. A fast food breakfast costs $5 in the U.S., 30 riyals in Saudi Arabia, 40 Moroccan dirham in Morocco, 250 Indian rupees in India, and 5 euros in France. According to these numbers, where is the real exchange rate between American and foreign goods the lowest?
a. Saudi Arabia b. Morocco c. India d. Britain
Exhibit 13-1 Consumer Price Index Year ConsumerPrice Index 1 100 2 110 3 115 4 120 5 125 As shown in Exhibit 13-1, the rate of inflation for Year 5 is:
A. 4.2 percent B. 5 percent. C. 20 percent. D. 25 percent.
Which situation would most likely cause a nation's production possibilities curve to shift inward?
A. An increase in foreign trade B. The destruction from bombing and warfare in a losing military conflict C. An increase in the number of skilled immigrant workers D. The construction of more capital goods