Logrolling occurs when
A. voters are limited to voting on bundles of goods.
B. congressional representatives trade votes.
C. lumberjacks roll logs downhill to their trucks.
D. voters are uninformed about issues and thus simply vote with a given party.
Answer: B
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You have data for sales of pizza for each of the 50 states in 2011. The type of graph to best display these data would be a
A) trend-line diagram. B) scatter diagram. C) multi-variable time-series graph. D) cross-section graph. E) time-series graph.
Which of the following statements is TRUE?
A) Average fixed cost equals average total cost plus average variable cost. B) Average variable cost is always greater than average fixed cost. C) Average fixed cost equals total fixed cost divided by total output. D) Average total cost always falls as output increases.
What is the antithesis of the rule of law?
A) Arbitrary governance
B) Governance according to the will of whoever is in charge
C) Both of the above.
D) None of the above.
Suppose there are only two goods (Good A and Good B) and the average person buys 4 of Good A in a year and 3 of Good B. If the Price of Good A is $5 and the Price of Good B is $10, the price of the market basket
A. is 50. B. is 20. C. is 30. D. is 100.