Which of the following is not true of collective decision-making costs?
a. They impede collective action.
b. They are the reason why unanimity rule is not the optimal decision-making rule.
c. They imply that simple majority rule is the optimal decision-making rule.
d. They increase the closer the decision rule gets to unanimity.
c
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Everything else equal, a decrease in the demand for dollars in exchange for the pesos:
A) will cause the dollars to depreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market. B) will cause the dollars to depreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. C) will cause the dollars to appreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. D) will cause the dollars to appreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market.
The most important component of the Economic Recovery Act passed by the Bush Administration was ________
A) the creation of the Federal Reserve discount window B) the establishment of the Troubled Asset Relief Program (TARP) C) the decrease in taxes for the wealthiest one percent of all Americans D) the creation of the Federal Reserve
With reference to the graph above, if the intended aim of the price ceiling set at $6 was a net increase in the well-being of consumers, then positive analysis would conclude:
A. the policy was effective, since surplus gained by consumers through lower prices is greater than the surplus they lost through deadweight loss.
B. the policy was ineffective, since surplus gained by consumers through lower prices is less than the surplus they lost through deadweight loss.
C. the policy was effective, since surplus lost by producers through lower prices is less than the surplus gained by consumers through lower prices.
D. the policy was ineffective, since the amount of deadweight loss is greater than the surplus gained by consumers from lower prices.
Currently, total government expenditures in the United States have totaled about:
a. one-tenth of GDP. b. one-fifth of GDP. c. 40 percent of GDP. d. one-half of GDP.