Refer to the above table. MC is the lowest
A. between 3 and 4 units of output.
B. at 0 units of output.
C. between 0 and 1 units of output.
D. between 1 and 2 units of output.
Answer: D
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One of the conditions that must exist for the median-voter theorem to hold is:
A. there is a simple in-favor/not-in-favor position held by each candidate. B. candidates win by majority vote. C. there must be a run-off election in the event of a tie vote between two or more candidates. D. voters may vote for a policy even if it not close to their own beliefs.
All of the following are automatic fiscal stabilizers EXCEPT
A. a congressionally mandated decrease in tax rates to stimulate the economy. B. an increase in unemployment expenditures during a recession. C. a decrease in overall tax revenues during a recession. D. a decrease in unemployment compensation payments during an expansion.
When the U.S. dollar depreciates against the yen, the yen becomes ________ expensive and the U.S. exchange rate ________
A) more; rises B) less; rises C) more; falls D) less; falls
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