Majority-rule voting
A) is economically efficient.
B) is never economically efficient.
C) may or may not be efficient, depending upon the preferences of the voters.
D) is economically efficient only in a democracy.
E) is economically efficient only if there is a median voter.
C
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Other things the same, the wages in an occupation are likely to be higher the more
a. dangerous the job. b. prestigious the work environment of the occupation. c. desirable the location of the job. d. pleasant the working conditions.
If, in the short run, the level of output is zero, which of the following statement is TRUE?
A) Total variable cost is zero but total cost equals total fixed cost, and both of the latter exceed zero. B) Total cost and total fixed cost graphs will begin at the origin. C) Total fixed cost will also be zero at first but will rise once output rises. D) none of the above