Pair-wise majority voting entails:

A. voting on options that is done in pairs, and the majority vote wins.
B. voters ranking all available options and the option most approved of wins.
C. one vote with many options, and the option with the most votes wins.
D. None of these describes pair-wise majority voting.


Answer: A

Economics

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Jimbo has a comparative advantage over Ned in producing a good if

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According to a study of the price elasticities of products sold in supermarkets, the price elasticity of demand for toothpaste is estimated at -0.45. Which of the following could explain why the price elasticity of demand for toothpaste is so low?

A) Toothpaste is heavily endorsed by dentists. B) Toothpaste is relatively inexpensive. C) There are few close substitutes for toothpaste. D) The toothpaste industry is highly competitive.

Economics

Frictional unemployment occurs when: a. there is friction between an employer and employee

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Economics