Which of the following is TRUE about the political and market systems of voting?
A) The political voting system functions according to proportional rule, while the market voting system functions according to majority rule.
B) The political voting system functions according to majority rule, while the market voting system functions according to proportional rule.
C) The political voting system functions according to minority rule, while the market voting system functions according to majority rule.
D) The political system and the market system are identical.
Answer: B
You might also like to view...
The way we know what commodities are relatively scarce or abundant is through
A) transaction costs. B) prices. C) price ceilings. D) price floors.
Last month a country sold more goods and services to residents of foreign countries than it purchased from them. What does this imply about this country's trade balance?
What is the role of price controls in the market economy?
a) Price controls are used to make markets more efficient b) Price controls are a tool used by business firms to fix prices c) Price controls are nearly always effective in eliminating shortages d) Price controls are used by governments to reallocate resources more equitably
The terrorist attacks in Bali, London, and Madrid since 2001 suggest that U.S. policy has
A. made it significantly costlier to launch another terrorist attack against the U.S. on U.S. soil. B. forced a complete reversal of the overriding objectives of terrorist groups since 2001. C. made it impossible to launch another terrorist attack against the U.S. on U.S. soil. D. depleted the financial resources of foreign terrorist groups.