Congressperson A: "If you approve that new water treatment plant in my district, I'll vote to keep the Air Force base open in your district." Congressperson B: "It's a deal." This is an example of
A) logrolling.
B) lobbying.
C) median voting.
D) logtumbling.
A
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In the mid-1970s, Newsweek magazine reported that the city of Atlanta lowered its city bus fares from 40 cents to 15 cents a passenger. The number of bus riders increased by 15 percent after the fare cut
This set of results indicates that the demand for bus rides in Atlanta at that time was A) unit elastic. B) perfectly inelastic. C) elastic. D) inelastic. E) perfectly elastic.
All charitable donations in Richland are tax-deductible. However, it was found that the volume of charitable contributions declined significantly when the income tax rate in Richland was lowered
What is the reason behind such an outcome? Explain with an example.
The figure above shows the market for pizza
a) If the price of a slice of pizza is $3, what is the consumer surplus of the 50th slice? b) If the price of a slice of pizza is $3, what is the producer surplus of the 50th slice? c) What is the efficient quantity? What is the equilibrium quantity? What is the deadweight loss when the equilibrium quantity is produced?
What are the implications of the quantity theory of money for monetary policy and price stability?
What will be an ideal response?