If preferences are one-dimensional and preferences are single peaked, majority rule will result in selection of the project most favored by
a. no one

If an epidemic hits a Malthusian economy, the long-term consequence is

A) an increase in the standard of living. B) a reduction in the standard of living. C) no change in the standard of living. D) dependent on the population growth rate.

Other things equal, the domestic currency ________ when the domestic money supply increases relative to the foreign money supply.

A. remains unchanged in the long run. B. depreciates in the long run C. appreciates in the long run D. appreciates in the short run but returns to its initial value in the long run.