In settings where the policy space is single dimensional, non-single peaked preferences by some implies there is no Condorcet winner.
Answer the following statement true (T) or false (F)
False
Rationale: There is no longer guaranteed to be a Condorcet winner, but there may be in particular settings.
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Which of the following will LEAST likely generate positive external effects to society?
A) education B) fast food services C) health care D) requiring drivers to undergo periodic eye examinations
Suppose Ford, GM, and Dodge make the majority of pick-up trucks sold in the United States If they all sell for approximately the same price, and Ford offers a $2,000 rebate on new truck sales, what can Ford expect to see?
a. an unprecedented increase in truck sales b. an immediate response by GM and Dodge c. a visit from the antitrust authorities of the government d. a revolution from Ford stockholders e. announcements by GM and Dodge that plans are underway to produce a much cheaper pick-up truck in six years
Refer to the information provided in Figure 20.3 below to answer the question(s) that follow.
Figure 20.3Refer to Figure 20.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. This would cause the number of pairs of shoes produced domestically to
A. remain the same. B. fall to zero. C. decrease. D. increase.
Refer to the domestic production possibilities curve for Karalex. The gain to Karalex from specialization and international trade is represented by a move from:
A. A to B.
B. C to A.
C. C to D.
D. B to E.