The median voter model implies that:
a. most voters will have about the same preferences for goods and services provided through government
b. a candidate may adopt more extreme views when seeking her party's nomination than during the general election.
c. political voting will be as economically efficient as voting with dollars in competitive markets.
d. none of the above
b
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Refer to Scenario 11.1. Suppose all five ranchers know that their land that Mariana needs is worth a total of $2 million
If each rancher agrees to sell his or her parcel of land to Mariana for $600,000, the logical outcome in this situation is for the railway ________ , and the benevolent social planner is ________. A) to be built; pleased B) to be built; indifferent C) not to be built; unhappy D) not to be built; indifferent
On average, electricians who work on dangerous high-voltage power lines earn more per hour than similarly skilled electricians who don't work on dangerous high-voltage power lines. The difference in pay is attributed to
a. the marginal product of labor. b. the marginal product of capital. c. diminishing marginal returns. d. a compensating differential.
According to classical macroeconomic theory,
a. output is determined by the supplies of capital and labor and the available production technology. b. for any given level of output, the interest rate adjusts to balance the supply of, and demand for, loanable funds. c. given output and the interest rate, the price level adjusts to balance the supply of, and demand for, money. d. All of the above are correct.
According to the textbook, an efficient manager will be one who:
A. does not put much weight on recent performance. B. considers recent performance as the best indicator of an applicant's ability. C. weighs a candidate's weaknesses more heavily than the candidate's strengths. D. tends to favor early applicants in an employee search.