Suppose everyone in a town prefers spending on improved public transportation systems instead of public parks, and prefers spending on public parks instead of building a public zoo. A voting system that would ensure that zoo funding would never beat spending on transportation would demonstrate which criteria for an ideal voting system?
A. Transitivity
B. Unanimity
C. No dictator
D. Independence of irrelevant alternatives
Answer: A
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The intercept term of the linear investment function measures:
A) induced investment expenditures. B) autonomous investment expenditures. C) income. D) none of the above.
Income disparities alone prove the existence of racial discrimination in the labor market
Indicate whether the statement is true or false
Anna's Antiques expects to get three bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If three bidders show up at the auction and all of them are high-value bidders, what would the winning bid be?
a. Just above $100 b. $100 c. Just above $70 d. $70
What would be the effect on the loanable funds market of an increase in the corporate profits tax? (Assume that the government maintains a balanced budget.)
a. The demand for funds would decrease, lowering the interest rate and leading to lower private investment. b. The demand for funds would increase, raising the interest rate and leading to higher private investment. c. Both the demand and the supply of funds would increase, lowering the interest rate and leading to lower private investment. d. The supply of funds would increase, lowering the interest rate and leading to higher private investment. e. The supply of funds would decrease, raising the interest rate and leading to lower private investment.