Compared to two-party systems, proportional-representation systems are thought to:
A. be much less efficient and lead to very few compromises when voting.
B. lead to more centrist policies.
C. offer a wider variety of platforms among which voters can choose.
D. create unwieldy combinations of policies within one platform.
Answer: C
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The Lucas Wedge is estimated to
A) total over $406,000 per person as a result of the slowdown in the growth rate of real GDP. B) be positive in some years and negative in others. C) be about 2 percent of real GDP per year. D) be negative due to the severe recession in 2008-2009. E) have reached about $13,000 per person in the last year.
Which of the following will be an efficient payment scheme for a defendant's attorney, who is experienced in handling similar cases in the past?
a. Contingency fees b. Capitation fees c. Hourly billing d. Quality based billing
If a nation has a real GDP of $100,000 with 1,000 people, real GDP per capita would be $1,000 per person
a. True b. False Indicate whether the statement is true or false
Assume an economy moves from E1 to e2 to E3. Which of the following statements accurately describes the situation shown?
a. The economy recovers from the recessionary gap by moving from E1 to e2.
b. The economy begins and ends in both short-run and long-run equilibrium.
c. The economy recovers from the recessionary gap by moving from E3 to e2.
d. The economy begins in long-run equilibrium but ends in a recessionary gap.