The idea that there is no voting system that can consistently make a fair choice among three or more candidates is a conclusion of
A) Arrow's impossibility theorem.
B) the Condorcet paradox.
C) the Voting Rights Act of 1965.
D) the median voter theorem.
A
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The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $30,000?
A. 0 B. 3 C. 2 D. 1
The basis for trade is absolute advantage, not comparative advantage
Indicate whether the statement is true or false
We would expect that policies to protect workers would:
A. lead to greater unemployment. B. lead to less unemployment. C. have no impact on unemployment. D. affect those seasonally unemployed more profoundly than other unemployed workers.
The consumer optimum is defined as
A) the set of goods and services that maximizes marginal utility for each good. B) the set of goods and services such that the marginal utility of each good equals zero. C) the set of goods and services that maximizes the marginal utility of each good consumed. D) the set of goods and services, subject to the limited income of the consumer, that maximizes the total utility of the consumer.