Assume a price ceiling is imposed at the current equilibrium price in the market for wheat. If the supply of wheat then decreases as a result of bad weather,
a. a surplus of wheat will be created

Arrow's impossibility theorem proves that a. no voting system can satisfy several preferable properties at the same time

b. politicians will never be able to satisfy the median voter. c. politicians will never be able to act fully in the best interests of the public good. d. no voting system will ever depend on the median voter.

Your teacher decides to play a game where every student must contribute a dollar. All money collected is distributed at the end of the game among the students. This is an example of a

A) positive-sum game. B) zero-sum game. C) strategy. D) negative-sum game.