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Discussion Topic: Delegates & Trustees Delegate: "The role members of Congress serve in representing the interests and policy preferences of their constituents" (Zaino, 2012, p. 66) Trustee: "The role members of Congress serve in acting on behalf of the interests of the home constituents and nation regardless of whether constituents would immediately approve of the members' decisions" (Zaino, 2012, p. 66) An example of how these two perspectives (delegate and trustee) may conflict is when the legislator is asked to vote on the closing of a military base in his/her district where it may be good for overall society to minimize the expense of the base but in that legislator’s district it may cause the loss of jobs. A trustee may be more willing to close the base where a delegate would not. Most legislators try to balance the two types of representation.
The discussion question(s) is: If you were a legislator and had to decide whether to close the base or not, what would you decide? Are you acting more as a delegate or a trustee in making your decision? Explain your response in 175-200 words.
Analyze how a bartender would know which the price of an exotic drink was too low or too high.
q.assume that company abc is replacing workers on the manufacturing floor with robots and other machines. company xyz
A local video rental monopolist faces the weekly demand function D(P)= 1000-100P. The marginal cost of a rental is $4. Suppose the town government places a $1 tax on all video rentals. What effect will the tax have on the price the monopolist charges..
Shawn Bates was working to establish a business enterprise with four of his wealthy friends. Each of the five individuals would receive a 20 percent ownership interest in the company. A primary goal of establishing the enterprise was to minimize the ..
What is the smallest per product unit subsidy that must be paid to the monopolist in order to induce it to produce 7 units of its product?
The cost leadership approach implicates competing by having a lower cost than one's competitors
Use a model of the money market to explain why changes in nominal or money GDP are associated with changes in interest rates.
Alice makes a deposit at her local bank. As she if filling-out the necessary forms, she discovers a $1,000 bill next to a deposit receipt near the teller's window. Alice asks the bank if anyone has lost the money. The bank investigates and cannot fin..
What is opportunity cost of producing one more bushel of wheat in US. Which country has a comparative advantage in winter hats.
What price-output combination would exist with efficient pricing (MC = P)? Draw a graph with MC, Demand curve and MR curves for the problem above.
Why does the assumption of independence of risks matter in the examples of insurance. Illustrate what would happen to premiums if the probabilities of house.
The more progressive the tax system, the: The portion of the public debt owed to foreigners does not represent any real economic burden to Americans because we received money from foreigners when we incurred the debt. The so-called "recognition lag"..
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