Third parties generally cannot win elections under a majority vote system because _____
a. the original two parties make it illegal for third parties to exist
b. the original two parties are able to use the power of incumbency to raise the large amount of money necessary to run a winnable election
c. the original two parties will have already split the voting population by placing their platforms on either side of the median voter
d. the original two parties have already "locked-in" most eligible voters as members of their parties
c
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Consider the market for smart phones. Which of the following shifts the demand curve rightward?
A) a decrease in the price of smart phones B) an increase in the price of smart phones C) an increase in the price of land-line phone service, a substitute for smart phones D) an increase in the supply of smart phones E) a decrease in the number of smart phone buyers
A household's consumption choices cannot exceed limits created by
A) only the household's income. B) only the prices of the goods and services that it buys. C) both the household's income and the prices of the goods and services that it buys. D) neither the household's income nor the prices of the goods and services that it buys.