Economist Kenneth Arrow has shown mathematically that no system of voting will consistently represent the underlying preferences of voters. This finding is called
A) Arrow's median voter model.
B) Arrow's Amendment to the public choice model.
C) Arrow's majority vote paradox.
D) the Arrow impossibility theorem.
D
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Firms hire labor at the point where the
A) nominal wage rate equals the marginal product of labor. B) real wage rate equals the marginal revenue product of labor. C) nominal wage rate equals the marginal revenue product of labor. D) real wage rate equals the marginal revenue product of capital.
This agency regulates workplace safety and health conditions
A) Environmental Protection Agency B) Consumer Product Safety Commission C) Equal Employment Opportunity Commission D) Occupational Safety and Health Administration
According to the crowding-out effect, a budget deficit will lead to:
a. reduced investment spending and a reduction in long-term economic growth. b. reduced investment spending and an increase in long-term economic growth. c. increased investment spending and a reduction in long-term economic growth. d. increased investment spending and an increase in long-term economic growth.
Ruble control refers to the monitoring of the financial plan by observing fulfillment of the physical plan
a. True b. False