Sailboats and motorboats share Emerson Lake, which nobody owns. The sailors say the motorboats are a hazard; the motorboaters say it is the other way around. Frequent collisions occur, with many injuries and some deaths every year. If the City of Emerson were to buy the lake itself,
a. the problem would be solved, because the lake would have an owner
b. the problem would be solved, because no one could use the lake
c. the city would still have to assign property rights so that use of the lake would be efficient
d. the city would give the right to use the lake to the larger group
e. the city would give the right to use the lake to the richer group
C
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An open market sale by the Fed
A) decreases the money supply and increases output. B) increases the money supply and decreases output. C) decreases the money supply and decreases output. D) increases the money supply and increases output.
A voting procedure in which voters initially rank alternatives, the alternative with the fewest first-place votes is eliminated and those votes are transferred to each voter's next-favorite choice,
and the process repeats until a winner emerges, is known as the A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method