According to public choice theory, low voter turnouts are the result of voters

A) being apathetic.
B) being uninformed.
C) being lazy.
D) disliking the candidates.
E) calculating their costs and benefits of voting.


E

Economics

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If a state government reduces property taxes for residents at the same time that it increases the state income tax, what will happen to the expenditures schedule of the residents of this state?

a. It shifts upward. b. It shifts downward. c. It becomes less steep. d. It becomes steeper. e. It does not change.

Economics

Refer to the Laffer Curve above. An increase in the tax rate from T2 to T3 would:



A. Decrease tax revenues and support the views of supply-side economists
B. Increase tax revenues and support the views of supply-side economists
C. Increase tax revenues and support the views of mainstream economists
D. Decrease tax revenues and support the views of mainstream economists

Economics

Refer to Goods X and Y. If the indifference curves are horizontal, then we can conclude that

Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. X does not affect the individual’s utility. b. Y does not affect the individual’s utility. c. both X and Y affect the individual’s utility. d. neither good affects the individual’s utility.

Economics

Which of the following would most likely cause Graph B to shift to the right?



a. a decline in a country's poverty level
b. an increase in a country’s minimum wage
c. a country’s standard of living increasing
d. a country going through an economic depression

Economics