In The Distinguished Gentleman, Eddie Murphy plays a con man with a name similar to that of a long-running congressional representative. When the politician dies, Murphy runs for office using the politician's name: Jeff Johnson. He's careful not to go on camera but uses taglines in commercials such as "Johnson: The name you trust." He eventually achieves a slim victory. How does Murphy's character use voter ignorance to win the election?
A. He's expecting most voters not to investigate him too much.
B. He's expecting most voters to neither investigate him too much nor know that their congressman died.
C. He's expecting that most people won't remember his campaign promises.
D. He's expecting most voters not to know their congressman died.
Answer: B. He's expecting most voters to neither investigate him too much nor know that their congressman died.
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What will be an ideal response?
Price discrimination is best described as a monopolist:
a. selling a product at the fixed market determined price. b. charging buyers an excessive price for the product. c. charging different customers different prices when the costs are equal. d. selling a product for different prices during two different periods of time. e. charging same prices to different customers when the costs are different.
An important reversal has created a new trend in economic inequality, which is that
a. wealth gaps between countries are now increasing. b. wealth gaps within states are now increasing. c. gaps in wealth are now smallest among the most populated nations. d. gaps in wealth are now no longer prominent or influential.
What causes movement from point A to point B on the curve?
a. a decrease in the price level from PL2 to PL1
b. an increase in the price level from PL1 to PL2
c. a leftward shift of the aggregate demand curve
d. an increase in real GDP from RGDP1 to RGDP2