The Theory of the Median Voter May Not Work If

question 13

Multiple Choice

The theory of the median voter may not work if:
I. voters do not vote.
II. voters do not vote for the policy closest to their own positions.
III. there is only a single dimension over which the voting occurs.

• A) I only
• B) II only
• C) I and II only
• D) I, II, and III

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Definitions:

Absorption Costing

A financial methodology that includes every cost related to producing a product—direct materials, direct labor, and both kinds of overhead expenses (variable and fixed), into the product’s final cost.

Ending Finished Goods

Ending Finished Goods are the inventory of completed products that are available for sale at the end of an accounting period.

Net Operating Income

This is the profit a company makes from its operations, after all operating expenses have been subtracted from revenues but before taxes and interest are deducted.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue is contributing to fixed expenses and net income.