The mathematical result showing that a majority rule voting system will produce the outcome most preferred by the voter exactly in the middle of the distribution is called the
median voter theorem.
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An increase in government spending
A) increases consumption and output. B) increases consumption, decreases output. C) decreases consumption, increases output. D) decreases consumption and output.
Will depletable resources such as oil, coal, and aluminum be exhausted if their prices are left to the market?
What will be an ideal response?
According to the law of comparative advantage, individuals and economies should specialize in producing those goods and services in which they have a comparative advantage
a. True b. False
When the economy enters a recession, unemployment insurance payments
a. fall, causing incomes and spending to fall more slowly than real GDP b. fall, causing incomes and spending to fall more rapidly than real GDP c. rise, causing incomes and spending to fall more rapidly than real GDP d. rise, causing incomes and spending to fall more slowly than real GDP e. fall, causing incomes and spending to fall at the same rate as real GDP