Voting in accordance with one's true preference is called
A) ballot manipulation.
B) strategic voting.
C) naive voting.
D) the voting paradox.
C
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The above figures show the market for oranges. Which figure(s) shows the effect of new successful advertising campaigns to eat more oranges?
A) Figure A B) Figure B C) Figure D D) Figures A and D
Answer the following statements true (T) or false (F)
1. A positive economic statement is always true. 2. Positive economics deals with “what is” as opposed to “what ought to be.” 3. The largest part of U.S. national income takes the form of profits. 4. Consumption is the ultimate end of economic activity.
A decrease in the effective tax rate on capital would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) remain unchanged if taxes are fully deductible from income; otherwise, shift up and to the right.
According to the above table, at a price of $8 per unit, other things constant
A) consumers will continue to bid prices upward. B) there will be no tendency for the market to approach an equilibrium. C) a surplus of 100 units will exist. D) a shortage of 80 units will exist.