A _____ is when no one outcome can defeat all others by majority rule
a. cyclical majority
b. single-peaked preference
c. political business cycle
d. political institution
a
Economics
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The United States can use all of its resources to produce 50 computers or 4,000 shoes. Suppose that at world market prices, one computer exchanges for 100 shoes. Explain how the United States can gain from trade
What will be an ideal response?
Economics
When asymmetric information problems drive high quality products from a market, we refer to this situation as:
A) adverse selection. B) moral hazard. C) a lemons problem. D) A and C are correct. E) B and C are correct.
Economics