_____ is a process in which parties initially in disagreement attempt to reach an agreement
a. Strategic voting
b. Negotiation
c. Borda count
d. Median voting
B
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The opportunity cost of something you decide to get is
A) all the possible alternatives that you give up to get it. B) the highest valued alternative you give up to get it. C) the value of the item minus the cost you paid for it. D) the amount of money you pay to get it.
As population of a region increases, the consumer's demand curve for a product will shift
Indicate whether the statement is true or false
Product differentiation allows the firm to
a. raise price and lower quantity demanded b. raise price without suffering a substantial loss of sales c. shift the market demand curve to the left d. shift the market supply curve to the left e. decrease barriers to entry
Deficits and debt are often measured relative to GDP because:
A. the growth in GDP depends on the debt. B. the government's ability to repay the debt depends on GDP. C. this method always makes them appear smaller. D. this method always makes them appear larger.