Plurality voting fails which of the criteria for an ideal voting system?
A. Unanimity
B. Independence of irrelevant alternatives
C. Transitivity
D. No dictator
Answer: B
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In making your decision whether to take a trip during spring break, you compare all the other activities you could undertake. As a result, you
A) are not making a rational choice. B) must have made a choice in the social interest. C) limit the cost and the benefits you can gain. D) are making a choice on the margin. E) do not face an opportunity cost.
An increase in the demand for computers and a decrease in the number of sellers of computers will definitely ________
A) increase the number of computers bought B) increase the price of a computer C) increase the price of a computer and the number of computers bought D) not change the price of a computer and increase the number of computers bought
International trade allows countries to:
a. produce outside their PPF. b. produce inside their PPF. c. consume inside their PPF. d. consume outside their PPF.
In the 1980s, banks __________ the amount of highly speculative loans they were holding due to __________ deposit rates
A) increased; rising B) increased; falling C) decreasing; rising D) decreased; falling