When is an individual said to have single-peaked policy preferences?
What will be an ideal response?
An individual's policy preferences are single-peaked if he or she prefers policies closer to his or her political bliss point to those that are farther away. The individual's political bliss point is his or her most preferred policy option.
A-head: CONFLICT OF INTEREST AND POLITICAL ECONOMY
Concept: Single-peaked preferences
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A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic. E) perfectly elastic.
The average total cost curves for Plant 1, ATC0, and Plant 2, ATC1, are shown in the figure above. The long-run average cost curve goes through points
A) C, D, G. B) A, C, E. C) A, B, D, G. D) A, B, D, E, F.
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a. increase planned investment b. decrease planned spending c. increase exports d. decrease imports e. decrease saving
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a. 10 percent b. 20 percent c. 30 percent d. 60 percent