Which theorem tells us that no voting system is perfect?
A. Arrow's impossibility theorem
B. Median-voter theorem
C. Condorcet paradox
D. Bowman's problematic theorem
A. Arrow's impossibility theorem
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Which of the following is true regarding the required reserve ratio?
A) The ratio determines the legally required amount of reserves a bank must hold. B) The ratio determines the amount of excess reserves a bank must hold. C) The ratio is only enforced against banks that are operating in a risky manner. D) None of the above answers is correct.
An speculator who buys a fifty-year corporate bond
A) must be expecting to still be alive in fifty years. B) is subject to substantial reinvestment risk. C) is probably expecting market interest rates to increase in the future. D) is probably expecting market interest rates to decrease in the future.
Banks in the United States may create new money equal to their amount of required reserves
a. True b. False Indicate whether the statement is true or false
Economists use the term inflation to describe a situation in which the economy's overall price level is rising
a. True b. False Indicate whether the statement is true or false