A democratic (majority rule) decision over a multi-dimensional issue can be manipulated by an agenda setter only if voter tastes are not single-peaked.
Answer the following statement true (T) or false (F)
False
Rationale: It can typically be manipulated even if preferences are single peaked (when the issue space is multi-dimensional).
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If a dollar a year from now will likely have less purchasing power because of inflation, then a dollar today ________ a dollar a year from now
A) is more valuable than B) has the same value as C) is less valuable than D) may be more valuable or less valuable than
Answer the following statements true (T) or false (F)
1) The marginal propensity to consume is the ratio of consumption to saving. 2) If people saved more of any extra income that they receive, then the consumption schedule will become flatter. 3) If the consumption schedule becomes steeper, then the saving schedule will become steeper also. 4) If households see the value of their financial assets increase significantly, then the saving schedule will shift upward. 5) The wealth effect will tend to decrease consumption and increase saving.