According to the median-voter theorem, the chosen policy will be the one preferred by the:
A. the average voter, rather than the largest number of voters.
B. median voter.
C. largest number of voters, rather than the average voter.
D. greatest average of voters, rather than the majority of voters.
Answer: B
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If a commercial airline starts offering maxi-saver fares at huge discounts to passengers who purchase tickets at least 30 days in advance and agree to stay over a Saturday night, what is the most likely effect upon first-class passenger service?
A) First-class fares will rise somewhat to compensate for the loss on other fares. B) The demand for first-class service may fall somewhat because the price of a substitute good has decreased substantially. C) The marginal cost of first-class service will rise somewhat because the total cost must be allocated among all passengers. D) The marginal revenue from first-class service will rise somewhat because first-class service is now more clearly a superior good.
How is the interest rate on a bond calculated?
What will be an ideal response?
In the Keynesian model, everything else equal, a higher level of income
a. increases money demand and reduces the interest rate. b. increases money demand and increases the interest rate. c. increases savings and decreases the interest rate. d. increases investment and has no effect on the interest rate. e. both b and c.
When the errors are heteroskedastic, then
A) WLS is efficient in large samples, if the functional form of the heteroskedasticity is known. B) OLS is biased. C) OLS is still efficient as long as there is no serial correlation in the error terms. D) weighted least squares is efficient.