A presidential candidate once famously said about a particular policy: "I voted for it before I voted against it." How might such a statement make sense in the context of sophisticated voting along agendas.
What will be an ideal response?
If a sophisticated voter looks down the "agenda tree", he may realize that an early vote for policy A is actually a vote for policy C given what will happen later on in the tree. Suppose he prefers A to B to C. He may therefore vote for B (and against A) early on in order to get the next vote to be a vote of C against B (where B can win) rather than A against C (where C would win). So he votes for C before voting against it.
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According to this Application, one explanation for the decline in the U.S. labor force participation rate since 1999 is
A) the increase in immigration to the United States. B) the increase in outsourcing by U.S. companies. C) the decline in the overall population. D) the increasing number of retiring baby boomers.
When the required reserve ratio is 20 percent, the money multiplier is:
a. 0.2. b. 1.2. c. 2. d. 2.5. e. 5.
Compared to people in other nations, people in the United States pay
a. much higher taxes. b. somewhat higher taxes, on average. c. about the same amount taxes. d. lower taxes.
When a second firm enters a monopolist's market, the initial demand curve facing the monopolist will:
A. shift to the left. B. shift to the right. C. remain the same. D. None of these