When applied to committees, the median voter model concludes that _____
a. becomes irrelevant as committees will be unable to select a clear outcome
b. the committee selects the outcome preferred by the median voter
c. when preferences are double peaked, the committee meets the demand of the median voter
d. a cyclical majority will emerge, if voters are irrational
b
You might also like to view...
Shin's uncompensated demand for widgets is given by Q = 10/p. According to this demand, Shin's Marginal Willingness to Pay function is
A) 10/Q. B) 10/p. C) 10Q. D) -10/p2.
The following problems could be analyzed using probit and logit estimation with the exception of whether or not
A) a college student decides to study abroad for one semester. B) being a female has an effect on earnings. C) a college student will attend a certain college after being accepted. D) applicants will default on a loan.
Assume an indifference curve yields a consumer 1,000 utils of total utility. If the consumer's budget increases by 50 percent, then the indifference curve:
a. shifts rightward. b. shifts leftward. c. becomes more linear. d. is unchanged.
Which of the following provides the best explanation for diseconomies of scale?
a. the firm is too small to take advantage of specialization. b. large management structures may be bureaucratic and inefficient. c. if there are too many employees, the work place becomes crowded and people become less productive. d. average fixed costs are rising.