There is no mechanism of collective choice that is always immune to misrepresentation of preferences by voters
Indicate whether the statement is true or false
T
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Which of the following is an example of a product that is nonexcludable and rival?
A) a motorcycle B) the court system C) Western lowland gorillas D) a NASCAR event
The hypothesis that changes in the money supply lead to proportional changes in the price level is called
A) the equation of exchange. B) the Keynesian multiplier. C) the theory of empirical relativity. D) the quantity theory of money and prices.
The costs involved with breaking a ban placed on a good depend on all of these except the:
A. punishment associated with rule breaking. B. likelihood of being caught. C. likelihood of being punished if caught. D. ability of the public or individuals to pay for those costs.
If we consider the period from 1973 to 2007, real wages were the lowest around the year
A. 1973. B. 1979. C. 1986. D. 1996.