Pair-wise majority voting eliminates which problem?
A. Third party problem
B. Majority options problem
C. Misalignment problem
D. Swing-vote problem
Answer: A
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Indicate whether the statement is true or false
Suppose that the demand for my new book, Spatulas From Around the World, is such that the demand curve lies everywhere below the average variable cost of producing it. To maximize profits or minimize losses, I should
a. raise price b. lower price to increase demand c. shut down the presses printing my book d. lower price until demand is inelastic e. charge the highest price I can
Demand-pull inflation and cost-push inflation are both characterized by higher levels of unemployment
Indicate whether the statement is true or false
Suppose the federal government doubles the gasoline tax. The deadweight loss associated with the tax
a. also doubles. b. triples. c. quadruples. d. rises by a factor of 8.