The median-voter theorem would suggest the reason politicians go from extreme to moderate positions on an issue over the course of an election is because they are appealing to the:
A. people in their party and opposing party.
B. average voter in their party in the primary, and the average of all voters in the general election.
C. median voter in their party in the primary, and the median of all voters in the general election.
D. majority of voters in their party in the primary, and the majority of all voters in the general election.
Answer: C
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When someone in a country buys an asset abroad, the transaction is recorded
A) in the current account. B) in the official settlements balance. C) in the financial account as a capital inflow. D) in the financial account as a capital outflow.
If monopolistically competitive firms earn short-run economic profits, we expect to see
A) new firms enter the industry, which shifts the demand curves of the existing firms to the left until firms earn zero economic profits. B) new firms trying to enter the industry, but unable to do so because of barriers to entry. C) existing firms altering their scale of plant to try to capture larger profits. The combined effect is to cause all firms to earn zero economic profits. D) existing firms increasing prices to try to capture larger economic profits.
Which of the following describes a situation in which, as the level of production of a good or service increases, the average cost of producing each individual unit decreases?
a. Arbitrage b. Economies of scale c. Privatization d. Deindustrialization
Interest on the government debt is an example of uncontrollable fiscal spending.
Answer the following statement true (T) or false (F)