Which theorem tells us that no voting system is perfect?
A. Bowman's problematic theorem
B. Arrow's impossibility theorem
C. Condorcet paradox
D. Median-voter theorem
Answer: B
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Signaling takes place in markets with ________
A) asymmetric information B) positive externalities C) negative externalities D) perfect competition
If New England had a Gini coefficient of 0.32 and the Middle Colonies had a Gini coefficient of 0.65, which of the following would be most accurate?
a. The Middle Colonies would have a higher per capita income. b. The Middle Colonies would have a lower per capita income. c. The Middle Colonies would have greater income inequality. d. The Middle Colonies' income was growing faster.
The only way to avoid the free rider problem is to allow the government to provide a public good
a. True b. False Indicate whether the statement is true or false
In 1979, when the Fed was deciding how aggressively to fight inflation, the typical estimate of the sacrifice ratio was
a. 1. b. 5. c. 7. d. 10.