The voting outcome and the most preferred outcome of the median voter are the same in a simple majority vote where there are several options from which to choose
Indicate whether the statement is true or false
True
You might also like to view...
Involuntary part-time workers are workers who
A) work less than 35 hours but would like to work full time. B) work more than 35 hours but would like to work less than 35 hours. C) work have lost their jobs within the last four weeks and are seeking another job. D) work less than 35 hours by choice. E) have withdrawn from the labor market.
If a good is excludable, ________
A) one person's use of the good reduces the amount of the good available to others B) people can be prevented from using the good C) more than one person cannot use the good at the same time D) several people can use the good simultaneously
A risk-neutral individual will make investment decisions purely based on net present value because
A) she doesn't care about utility. B) utility is a linear function of wealth. C) she loves to take risk. D) net present value is always more than expected utility.
In the view of the classical school, unemployment
a. is a permanent condition b. disappears when everyone who is willing to work at the equilibrium wage finds employment c. exists because people do not interfere with the competitive process d. is only temporary because all wages and prices are rigid e. is necessary and not really harmful to the economy