In the expansion phase of the business cycle
a. output is rising
b. unemployment is falling.
c. consumer and business confidence is high.
d. all of the above are true.
d
Economics
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Kenneth Arrow proved that the voting system that satisfied all of the properties of his "perfect" voting system was
a. one in which a single person (a "dictator") imposes his preferences on everyone else. b. pairwise majority voting. c. majority voting that is not pairwise. d. None of the above is correct. Arrow proved that no voting system can satisfy all of the properties of his "perfect" system.
Economics
To have more consumer goods in the future, we must
A) produce more capital goods today. B) lower current income. C) get government involved in the production process. D) stop producing all goods today.
Economics