Which of the following statements is false?
A) In some instances, simple majority voting leads to a project being undertaken even though the total costs of the project exceed the total benefits.
B) Simple majority voting fails to take into account the intensity of individuals' preferences.
C) Public choice economists often explain low voter turnouts in terms of the individual costs and benefits of voting.
D) If an individual will only vote if he or she feels that his or her vote will make a difference in the election, it is likely that he or she will vote.
D
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The average U.S. unemployment rate from 1948 has been about
A) 19.7 percent. B) 10.7 percent. C) 2.7 percent. D) 5.8 percent. E) 15.7 percent.
The economy's marginal social benefit curve for a public good is calculated by adding the
A) marginal cost of all the suppliers at each quantity. B) quantities supplied by all the suppliers at each price. C) quantities demanded by all the individuals at each price. D) marginal benefits of all the individuals at each quantity.