To have an ideal voting system in place, if a group is voting on option X versus option Y, this decision should not depend on any information or preference about another unconnected option, Z. In other words, which of the following criteria must be present in the voting system?
A. Unanimity
B. No dictator
C. Transitivity
D. Independence of irrelevant alternatives
Answer: D
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In the long run, the firm ________ change the number of workers it employs and ________ change the size of its plant.
A) can; can B) can; cannot C) cannot; can D) cannot; cannot E) In order to answer the question, more information is needed about how long the long run is.
The GDP growth rate is report at annualized rate. This means each quarter’s growth rate is ______ and reported as if the economy had the same growth rate for the entire year.
a. divided by 12 b. multiplied by 4 c. divided by 4 d. multiplied by 12
If an American-based firm opens and operates a new clothing factory in Honduras, then it is engaging in
a. foreign portfolio investment. b. foreign financial investment. c. foreign direct investment. d. indirect foreign investment.
Of the three big? questions, what?, how?, and for whom?, which of the following is an example of a how ?question?
A. Why do we use machines rather than migrant workers to pick? grapes? B. Why do doctors and lawyers earn high? incomes? C. Why do college football coaches earn more than? professors? D. Why? don't we produce more small cars and fewer gas? guzzlers?