The median voter theorem states that:
A. politicians choose policies that, on average, generate more benefits than costs for the average voter.
B. the median voter tends to be the most informed voter.
C. candidates whose policies reflect the preferences of the median voter are more likely to win an election.
D. political success depends on candidates taking positions that are either to the right or to the left of the political center.
Ans: C. candidates whose policies reflect the preferences of the median voter are more likely to win an election.
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A. makes sense if at the quantity where MC=MR, the firm loses money. B. Makes sense if at the quantity where MC=MR, the price is less than AVC. C. makes sense if at the quantity where MC=MR, the price is less than ATC. D. never makes sense.
What is the Stolper-Samuelson theorem? What are the underlying conditions and assumptions for the theorem
What will be an ideal response?
All of the following are true when the economy is growing except
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Positive economics questions "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions "What is?" or "What will be?"
Answer the following statement true (T) or false (F)