If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Carlo is setting the agenda for votes, which pair will he put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
A. Public zoo and public parks
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In the above figure, if the firm is producing Q1 units at a price P1, the firm should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.
Total cost divided by quantity of output is
a. average variable cost b. average total cost c. average fixed cost d. marginal cost e. total variable cost
Which one of the following is NOT a government failure?
A. The "bridge to nowhere" in Alaska B. The FEMA reaction to Hurricane Katrina C. Allowing federal budget deficits to be financed by foreigners while calling for further tax cuts to help incumbent politicians get reelected D. Water pollution
The Law of Variable Proportions deals with the___________________between the input of productive resources and and the output of final products.
Fill in the blank(s) with the appropriate word(s).