Government failure occurs when the government runs a budget deficit.
Answer the following statement true (T) or false (F)
False
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Which theorem tells us that no voting system is perfect?
A. Arrow's impossibility theorem B. Median-voter theorem C. Condorcet paradox D. Bowman's problematic theorem
The invention of the Internet should make poorer countries
a. poorer due to the expense of new technology. b. poorer because the Internet is primarily in richer countries. c. richer because technology adoption is easier. d. richer because they can distribute information without costs.
The table above gives the total cost information for Hank and Helen's cherry farm. They sell their cherries in a perfectly competitive market, where the price is $6.00 per pound. If Hank and Helen produce and sell 5 pounds of cherries, what is their total revenue?
Select one: a. $30 b. $6 c. $20 d. $28
Which of the following holds true?
A. There is no relationship between AP and AVC. B. When MP is rising AVC is falling, and when MP is falling AVC is rising. C. When AP is rising AVC is falling, and when AP is falling AVC is rising. D. When AP is rising AVC is rising, and when AP is falling AVC is falling.