Majority-rule voting
A) is economically efficient.
B) is never economically efficient.
C) may or may not be efficient, depending upon the preferences of the voters.
D) is economically efficient only in a democracy.
E) is economically efficient only if there is a median voter.
C
You might also like to view...
The law of demand states that the quantity of a good demanded varies
A) inversely with its price. B) inversely with the price of substitute goods. C) directly with income. D) directly with population.
The City Council of Happy Village is thinking about imposing rent controls. If they put rent controls in place, which constituency are they trying to please?
A) landlords B) all taxpayers C) existing tenants D) all voters
A banking system that provides people immediate access to their deposits, but that allows banks to hold only a portion of those deposits on reserve, is known as:
a. an excess reserve system. b. a fractional reserve system. c. the Fed. d. the FDIC. e. an asset-based system.
The effect on the market for heating oil of a leftward shift of supply would be
A. a shortage of heating oil. B. a surplus of heating oil. C. a decrease in the quantity of heating oil sold and in its price. D. an increase in the price of heating oil and a decrease in the quantity sold.