Pair-wise majority voting ______________ the criteria of an ideal voting system.
A. fails to meet one of
B. fails to meet two of
C. fails to meet all of
D. meets all of
A. fails to meet one of
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When Keisha receives a flu vaccination, the additional benefit enjoyed by Keisha's friends is the
A) marginal private benefit. B) marginal external benefit. C) marginal social benefit. D) private benefit. E) marginal private cost.
The relationships between elasticity and total revenue hold because:
a. total revenue equals price divided by quantity demanded b. total revenue equals price times quantity demanded c. a drop in price has two opposing effects on the two components of the formula d. both b and c
Workers whose spells of unemployment are broken up by brief periods of employment or withdrawal from the labor force are referred to as ________ workers.
A. discouraged B. long-term unemployed C. short-term unemployed D. chronically unemployed
Suppose that a market for a product is in equilibrium at a price of $5 per unit. At any price above $5 per unit
A) there will be an excess demand for the product. B) there will be a shortage of that product. C) there will be an excess supply of the product. D) the quantity supplied of the product will be less than the quantity demanded of that product.