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

Related Mcqs:

Markus is a travelling salesman for an apparel company. In this employment relationship, Markus is the ?

A. agent B. principle C. screener D. signaler...

Jamil’s friend dies of a sudden heart attack. Jamil rushes to his doctor for an expensive physical examination. This response demonstrates that ?

A. People give too much weight to a small number of vivid observations B. People easily change their minds when confronted with new information C. People enjoy going to the doctor D. People tend to plan ahead and follow through on their plans...

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...

Nicole wants to avoid buying a car that is a lemon. She takes a car she would like to buy to her mechanic before she purchases it. This is known as ?

A. screening B. signaling C. moral hazard D. adverse selection...

Which of the following must be true about a signal that is used to reveal private information in order for the signal to be effective ?

A. It must be “as seen on TV” B. It must be free to the signaling party C. It must be costly to the signaling party but less costly to the party with higher-quality product D. It must be applied to an inexpensive product...