The median voter theorem states that
a. the median voter will never hold the decisive vote in an election.
b. policies that are enacted will be least preferable to the median voter.
c. the median voter will hold the decisive vote in an election
d. policies that are enacted will be most preferred by the median voter.
d
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Use the following table to answer the next question. The money supply and investment are in billions.Money Supply (billions of dollars)Interest RateInvestment (billions of dollars)$507%$100606110705120804130903140Assume that the MPC is 0.9 and the reserve requirement is 0.2. If the Federal Reserve needs to decrease aggregate demand by $100 billion at each price level to move the economy back to full employment and the current interest rate is 4%, then the Federal Reserve should ________ bonds on the open market equal to ________.
A. sell, $2 billion B. sell, $4 billion C. buy, $2 billion D. buy, $4 billion
Which of the following is likely to shift the demand curve for coffee workers to the left, assuming all else equal?
A) An increase in the wage rate B) A decrease in the wage rate C) A decrease in the price of coffee D) An increase in the price of coffee
Refer to Figure 13-1. Ceteris paribus, a decrease in the value of the domestic currency relative to foreign currencies would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Refer to Table 2-3. Assume Dina's Diner only produces sliders and hot wings. A combination of 120 sliders and 100 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.