While cyclical majorities can lead to unstable outcomes, they generally do not because of _____
a. rational ignorance
b. double-peaked preferences
c. political institutions
d. majority rule
c
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Refer to the table above. The total cost per month is the lowest if Ryan chooses to rent Apartment ________
A) 1 B) 2 C) 3 D) 4
As a result of OPEC ________ oil prices in 1973 and 1980, real GDP in United States ________
A) increasing; increased B) increasing; decreased C) decreasing; increased D) decreasing; decreased E) increasing; did not change
A government wants to build a hydroelectric dam to reduce flooding in a region and provide electricity to its people
What type of investment is this? In order to make a decision about whether or not to make the investment, how should the government evaluate this project?
Suppose two neighbors share a park. One neighbor, Al, leaves trash in the park. This bothers the other neighbor, Bert. According to Coase's theorem, one necessary condition to alleviate the externality is that
A) Al is fined by the government. B) Al has the right to leave trash and Bert cannot do anything about it. C) Bert has the right to a clean park and Al cannot leave trash. D) Either Al or Bert owns the park.