The Condorcet paradox shows that even if each individual in a group has transitive preferences, the group's collective preferences may not be transitive
Indicate whether the statement is true or false
TRUE
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The alternatives of the active versus passive view of stabilization policy are usually expressed as
A. fiscal policy versus monetary policy. B. internal versus external. C. present value versus future value. D. discretion versus rules.
A trade surplus occurs when a country:
A. imports more than it exports. B. imports less than it exports. C. has a zero balance of trade. D. has a negative balance of trade.
The purchase of a meal by an American tourist at La Tour d'Argen (a restaurant in Paris) would find its way into the American balance of payments as a:
A. positive entry in the current account. B. negative entry in the current account. C. positive entry in the financial and capital account. D. negative entry in the financial and capital account.
The American Federation of State, County, Government and Municipal Employees is an example of a(n)
A) guild. B) craft union. C) industrial union. D) public-sector union.