The Condorcet paradox shows that there is no scheme for aggregating individual preferences into a valid set of social preferences

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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U.S. exports of services were equal to about ____________ of U.S. exports of goods in 2014, compared to ________ in 1980.

a. one-half; one-fourth B. one-half; one-third c. one-half; one-fifth d. one-half; one-eighth

Economics

The behaviorist economists believe that economic behavior is guided by _________ and _________.

Fill in the blank(s) with the appropriate word(s).

Economics

The Department of Justice could use the cross-price elasticity between products sold at Staples and Office Max to show that the firms are very similar.

Answer the following statement true (T) or false (F)

Economics

Ted quits his $60,000-a-year job to be a stay-at-home dad. What is the opportunity cost of his decision?

A) zero, since he will no longer be earning a salary B) depends on the "going rate" for stay-at-home dads C) at least $60,000 D) the value he attributes to the joy of parenting

Economics