Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome ?

Related Mcqs:

hich of the following is not a property required of a perfect voting system ?

A. The median voter always wins B. no dictators C. independence of irrelevant D. transitivity...

Which of the following is true under pairwise majority rule if people vote for the outcome closest to their most preferred outcome ?

A. The average preferred outcome wins B. There is no clear winner due to Arrow’s Impossibility Theorem. C. The outcome preferred by the median voter wins D. The outcome preferred by the greatest number of voters wins....

In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?

A. There is no rational solution B. 75/25 C. 99/1 D. 1/99 E. 50/50...

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Which of the following is a response to People’s inconsistent behavior over time ?

A. all of these answers B. forced contributions to a retirement plan C. year-end bonuses D. efficiency wages...