Which of the following statements is false?
A) In some instances, simple majority voting leads to a project being undertaken even though the total costs of the project exceed the total benefits.
B) Simple majority voting fails to take into account the intensity of individuals' preferences.
C) Public choice economists often explain low voter turnouts in terms of the individual costs and benefits of voting.
D) If an individual will only vote if he or she feels that his or her vote will make a difference in the election, it is likely that he or she will vote.
D
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In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the CPI in 2013?
A) 59 B) 129 C) 169 D) 102
What are the two features of a public good?
A) nonrival and excludable B) nonrival and nonexcludable C) rival and excludable D) rival and nonexcludable
Suppose that Dell computers and Gateway computers are very close substitutes. Then the indifference curves between Dell computers and Gateway computers are almost straight lines. Is this analysis correct or incorrect? Explain
What will be an ideal response?
If price is less than average total cost, a firm
a. earns an economic profit b. hires additional workers c. moves its factory offshore d. fires the marginal worker e. suffers an economic loss