The theorem that suggests that politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions is called the:
A. average voter theorem.
B. moderate vote theorem.
C. median-voter theorem.
D. mid-voter theorem.
Answer: C
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Ending the "Great Inflation" era in the 1970s is an example of
A) inflation targeting. B) exchange rate targeting. C) central bank independence. D) appointment of a more conservative central banker. E) all of the above.
According to William Shepherd, the total assets of the top 100 firms in the United States have been declining, mostly in response to increased imports
a. True b. False
The data in the table show the marginal costs and marginal benefits to a city for five different levels of pollution control.Quantity of Pollution AbatementMarginal CostMarginal Benefit900 tons$400,000$100,000800 tons300,000150,000700 tons200,000200,000600 tons100,000250,000500 tons50,000300,000Refer to the above table. If the marginal benefit of pollution abatement increased by $150,000 at each level because of the community's newfound desire to attract cleaner industry, then the optimal level of pollution abatement in tons would be:
A. 600. B. 700. C. 800. D. 900.
Related to the Economics in Practice on page 214: According to the Economics in Practice, firms where managers had more extensive training experienced
A. a decrease in the marginal product of labor. B. a decrease in the marginal revenue product of labor. C. increasing wage rates. D. increased productivity.