The median voter model explanation for the landside victory of Ronald Reagan over Walter Mondale is that _____
a. Reagan was far closer to the median voter than Mondale
b. Reagan was far more charismatic than Mondale
c. Reagan was able to use the power of incumbency to overwhelm Mondale
d. Reagan was able to be more extreme than Mondale and still win
a
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The Tiebout model assumes that public services are financed by a proportional property tax.
A. True B. False C. Uncertain
Which of the following statements is true?
a. A political business cycle is one created by the incentive for politicians to manipulate the economy to get re-elected. b. Adaptive expectations theory argues that the best indicator of the future is recent information. c. Incomes policies tend to be ineffective over time. d. Incomes policies include jawboning, wage-price guidelines, and wage-price controls. e. All of these.
The classical model is a poor predictor of short-run economic fluctuations in part because it assumes that
a. all workers wish to work b. government will prevent these fluctuations c. the labor market always clears d. the long run is just a series of short-run periods e. labor demand curve is stable
The point at which buyers and sellers "agree" on the quantity of a good they are willing to exchange at a given price is called:
A. equilibrium. B. maximization. C. optimization. D. market collapse.