Condorcet's Paradox occurs when:
a. majority rule voting cycles among alternatives.
b. majority rule voting results in decisions that are not Pareto optimal.
c. point voting yields indeterminate results.
d. point voting results in decisions that are not Pareto optimal.
a
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When an economy experiences a recession there is
A) a rightward shift of the short-run Phillips curve. B) a leftward shift of the short-run Phillips curve. C) no change in the short-run Phillips curve. D) a downward movement along the short-run Phillips curve. E) an upward movement along the short-run Phillips curve.
What three characteristics do all games have in common?
What will be an ideal response?
Compare and contrast the burden of internally financed debt to externally financed debt.
What will be an ideal response?
The result of market failure is waste or lost surplus.
Answer the following statement true (T) or false (F)