Suppose a new cost-saving device will generate $1,000 net savings per year to a firm. The device costs $10,000. Should the firm purchase the device?
A) Definitely.
B) Absolutely not.
C) The firm is indifferent between buying the device and not.
D) More information is required to answer.
D
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The median voter model predicts that in a representative democracy _____
a. party platforms will converge to one preferred by the median voter b. successful politicians will emulate the median voter c. third parties will not exist d. successful politicians come from the median political party
How could Adam Smith's comment about the butcher, the brewer, and the baker be accurately rephrased in modern terms?
A) The butcher, the brewer, and the baker give us our dinner because they want to be well liked in the community. B) The butcher, the brewer, and the baker give us our dinner because they will be sued if they don't do so. C) The butcher, the brewer, and the baker give us our dinner because they each earn a living by doing so. D) The butcher, the brewer, and the baker give us our dinner because they view doing so as a public service.