According to the paradox of voting,
What will be an ideal response?
majority voting fails under some circumstances to make consistent choices that reflect the community's underlying preferences.
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Any point on the production possibility frontier is
A) attainable and might be allocatively inefficient. B) attainable and must be allocatively efficient. C) less production efficient than a point in the interior of the PPF. D) always allocatively efficient but might or might not be production efficient. E) always production efficient and always allocatively efficient.
In 2000, there were around _____ charter schools in the United States
a. 1,000 b. 5,000 c. 10,000 d. 20,000
A firm's total revenue is simply the price of its product multiplied by the quantity sold
a. True b. False Indicate whether the statement is true or false
When a country participates in international trade, its consumption possibilities
A. Always exceed its production possibilities. B. Must still equal its production possibilities. C. Will increase if it is a rich country and will decrease if it is a poor country. D. May increase, but its trading partners consumption possibilities will decrease.