Under representative democracy,
a. the median voter's preferences are always satisfied
b. citizens no longer have any influence since they do not vote on each issue
c. representatives may reflect the preferences of the median voter
d. less vote trading will occur than under direct voting
e. vote trading is impossible
C
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A) raises; do not change B) raises; rise C) lowers; rise D) lowers; do not change
The price elasticity of demand for corn is 0.4. A new hybrid of corn is discovered and all farmers start to use it, which increases the quantity of corn they can produce from each acre. What happens to the farmers' total revenue?
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A) right; appreciate B) right; depreciate C) left; appreciate D) left; depreciate
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