The median-voter theorem explains why
a. politicians take extreme stands on issues.
b. voters are attracted to political outsiders.
c. two opposing politicians tend to take opposite sides of each issues.
d. politicians tend to take middle-of-the-road positions.
d
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The table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15.Number ofCar WashesPer MonthTotal MonthlyBenefit fromCar Washes0$01$202$363$484$565$60What is the marginal cost of the 5th car wash each month?
A. $4 B. $14 C. $15 D. $12
The supply curve is influenced by
A) the income of consumers. B) the number of customers in the market. C) the prices of the inputs required to produce the product. D) the expectations of future profit.
Milton Friedman's macroeconomic theory and political philosophy have the relationship one would expect. He is a
A. Keynesian and a political liberal. B. new classical macroeconomist and a political liberal. C. monetarist and a political conservative. D. supply-sider and a political conservative.
In which of the following examples should the first country should trade the named product to the second country?
a. Canada can produce lumber products at a lower opportunity cost than the United States. b. The United States can produce cotton fabric more efficiently than India can, but doing so hurts other U.S. industries. c. Italy can produce leather goods more cheaply than Germany can in the absolute sense. d. Russia can produce more oil than Norway, but it incurs higher production costs than Norway does.