Which of the following is not correct?
a. Pairwise voting never produces transitive preferences.
b. The order of pairwise voting can affect the result.
c. Majority voting by itself does not tell us what outcome a society really wants.
d. No voting system can satisfy all of the following properties: unanimity, transitivity, independence of irrelevant alternatives, and no dictators.
a
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Which of the following is a possible reason for the improved economic performance between 1985 and 2007?
A) Demand Shocks have become smaller and less important. B) Monetary and fiscal policy have become more effective. C) Change in conditions that make monetary and/or fiscal policy more powerful. D) All of the above
Which of the following is not a component of aggregate expenditure?
a. Consumption expenditures b. Investment c. Imports d. Rent e. Government purchases
According to the Laffer curve, after raising the tax rate to some level, any further increase by government will cause tax revenues to decrease
Indicate whether the statement is true or false
The time between implementation of a macro-policy change and when the change exerts its primary influence is called the
a. impact lag. b. recognition lag. c. administrative lag. d. tax reform lag.