Which of the following statements does not follow from the median voter model?
a. Party platforms tend to converge to the median.
b. The farther a candidate is away from the median voter, the more support she will have.
c. Third parties generally cannot win elections.
d. Political candidates tend to be quite similar to one another.
b
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Suppose the Asian financial crisis decreased U.S. exports. In the aggregate demand/aggregate supply model, this would be represented as
A) a shift to the right of aggregate supply, which would result in more production for the U.S. economy. B) a shift to the left of aggregate supply, which would result in less production for the U.S. economy. C) a shift to the right of aggregate demand, leading to more spending and production in the U.S. economy. D) a shift to the left of aggregate demand, leading to less spending and production in the U.S. economy.
If a firm is operating at a loss in the short run and finds that its price is greater than average variable cost, then in the short run:
a. it should produce where MR = MC. b. it should produce zero output. c. it should go out of business. d. total revenue is less than total variable costs. e. total revenue is greater than total costs.