The smaller the percentage of voters required for collective action, the higher the external costs
a. True b. False
a
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What do you think of the following statement: To the extent to which individuals are aware of their self-control problems, markets can address the issue successfully.
What will be an ideal response?
If compared against other criteria for evaluating the public interest, the social welfare function is most comparable to _____
a. utilitarianism b. the Pareto criteria c. the potential compensation criterion d. cost-benefit analysis
Explain the difference between fully funded social security system and pay-as-you-go social security system
What will be an ideal response?
When real planned saving is greater than real planned investment spending
A. the interest rate will decrease. B. the interest rate will increase. C. real GDP will decrease. D. real GDP will increase.