Assume there are nine voters in a certain small town and let x = the preferred number of dollars spent per person per month on garbage collection. For Voters 1, 2 3, and 4, x = $10; for Voter 5, x = $15; for Voter , x = $18; and for Voters 6, 7, 8 and 9, x = $20 . The median voter is
a. Voter 3.
b. Voter 4.
c. Voter 5.
d. Voter 6.
c
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A true cost-of-living adjustment in response to a change in prices would compensate consumers so that they would be able to
A) purchase the same bundle they purchased before prices changed. B) achieve the same level of utility they did before prices changed. C) face the same choices they did before prices changed. D) achieve an increase in utility that is equal to the rate of inflation.
If the economy is experiencing demand-pull inflation, then the appropriate government policy would be to shift the:
a. aggregate demand curve by using a tax increase coupled with spending cuts. b. aggregate demand curve by using a tax increase coupled with more spending. c. aggregate demand curve by using a tax cut coupled with spending cuts. d. aggregate demand curve by using a tax cut coupled with more spending. e. aggregate supply curve by using a tax cut coupled with spending cuts.
The majority of spending in the government purchases category comes from the federal government.
Answer the following statement true (T) or false (F)
One advantage of a partnership over a corporation is:
A. greater accountability. B. increased ability to get funds. C. the ability to share the work and risks of business. D. limited liability.