The Condorcet paradox tells us that, even though it is impossible to satisfy all of Arrow's properties of a desirable voting system, pairwise majority voting will always satisfy transitivity
a. True
b. False
Indicate whether the statement is true or false
False
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Who of the following is counted as unemployed?
A) Rene, a retired chemist B) Homer, a full-time student at a vocational school C) Kim, a worker on strike from her company for a week D) Glenn, a student who just graduated from college last week and is currently looking for a job
What does the U.S. business cycle experience suggest about periods of war?
A) the economy tends to boom during the period of war B) after the war is over, the economy typically experiences a downturn C) they are associated with good economic times D) all of the above E) none of the above
A federal budget deficit occurs when: a. there is deflation
b. federal government purchases exceed net taxes. c. there is inflation. d. aggregate demand is greater than aggregate supply. e. aggregate supply is greater than aggregate demand.
Steel producers lobbying to keep imports out is an example of:
A. objective cost-benefit analysis. B. rent-seeking behavior. C. rational ignorance. D. corruption.