Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 22, Problem 4QCMC
To determine
Condorcet paradox and Arrow's impossibility theorem.
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Students have asked these similar questions
Explain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.
Arrow's impossibility theorem states that under certain assumptions about preferences, no voting system exists that satisfies all of the following properties:
•
Unanimity
•
Transitivity
•
Independence of irrelevant alternatives
•
No dictators
What is the significance of the concept of rational ignorance?
Question options:
It explains why voters are swayed by single-issue voting.
It explains why the majority of voters feel that their vote is important in determining the outcome of an election.
It explains how false or exaggerated political advertising influences voting behavior.
It explains why many people do not vote.
Chapter 22 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- Which of the following predictions is consistent with public choice theory? a. Voters always cast votes based on hard facts, not based on whether they like a candidate's personality. b. Legislation enacted is rarely a result of special interest legislation. c. Many voters will be uninformed on political and government issues. d. Voters always cast votes based on whether they like a candidate's personality, not on hard facts.arrow_forwardExplain why according to the theory of rational ignorance, an individual will decide not to participate in the election process (vote).arrow_forwardNation-wide welfare programs are more likely to be introduced in countries with the proportional electoral system than the majoritarian electoral system.True/ False provide supporting logic evidence.arrow_forward
- Which of the following is true? a. Arrow’s Impossibility Theorem states that There is no voting method that will satisfy a reasonable set of fairness criteria when there are three or candidates. b. Gibbard-Satterthwaite's theorem states that there is a voting method is completely resistant to strategic voting. c. None of the given choices d. May's Theorem states that the majority method will always have a winner.arrow_forwardThe Condorcet paradox illustrates Arrow’simpossibility theorem by showing that pairwisemajority votinga. is inconsistent with the principle of unanimity.b. leads to social preferences that are not transitive.c. violates the independence of irrelevantalternatives.d. makes one person in effect a dictator.arrow_forwardEconomists James Buchanan and Gordon Tullock are well-known for developing Group of answer choices the impossibility theorem. the voting paradox. the public choice model. the concept of government failure.arrow_forward
- True or False 31.The decline in the percentage of the federal government’s budget devoted to national defense is evidence of the lack of new demand for U.S. military activity. a.True b.False 32.In 2000, total United States spending on national defense was less than five percent of GDP. a.True b.False 33.The first priority of national defense spending is the defense of economic interests abroad. a.True b.False 34.Determining the optimal level of military expenditures is easy because the preferences of the median voter a reflected in the vote for president a.True b.False 35.If two nations are equally armed it is highly likely that neither will initiate a conflict. a.True b.False 36.The optimal sharing group for national defense is the size of a nation. a.True b.False 37.Spending so much on arms that the economy of an adversary collapses is called market warfare. a.True b.False 38.Dictatorships, whether stable or…arrow_forwardGeneral government is obtained by adding central government to provincial governments as well as local governments. This includes for instance the nine provoncial legislators. True or False?arrow_forwardFinancial Aid is an example of allocation by majority rule personal characteristics forcearrow_forward
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