Podcast
Questions and Answers
What is the term used to describe a decision-making rule where individuals can choose what to do without requiring approval from their peers?
What is the term used to describe a decision-making rule where individuals can choose what to do without requiring approval from their peers?
- Oligarchy
- Minority rule (correct)
- Majority rule
- Unanimous consent
In a community where decisions are always made by a specific minority group, what is the result called?
In a community where decisions are always made by a specific minority group, what is the result called?
- Majority rule
- Oligarchy (correct)
- Unanimous consent
- Autocracy
What percentage of the community's agreement is required under simple majority rule?
What percentage of the community's agreement is required under simple majority rule?
- 49%
- 60%
- 75%
- 51% (correct)
Which decision-making rule has the advantage of only allowing Pareto-efficient changes to be approved?
Which decision-making rule has the advantage of only allowing Pareto-efficient changes to be approved?
Under which decision-making rule is it impossible for any individual to be made worse off while others are made better off?
Under which decision-making rule is it impossible for any individual to be made worse off while others are made better off?
What is the term used to describe a situation where political externalities are imposed on individuals who disagree with a decision made by a minority of citizens?
What is the term used to describe a situation where political externalities are imposed on individuals who disagree with a decision made by a minority of citizens?
What is the primary purpose of conducting a cost-benefit analysis for government investments?
What is the primary purpose of conducting a cost-benefit analysis for government investments?
According to the passage, what is the main source of capital for a nation's physical infrastructure?
According to the passage, what is the main source of capital for a nation's physical infrastructure?
What is the key factor that determines whether additional investments in infrastructure or government programs will result in net benefits to society?
What is the key factor that determines whether additional investments in infrastructure or government programs will result in net benefits to society?
What is the purpose of creating a 'cost-benefit tableau' as described in the passage?
What is the purpose of creating a 'cost-benefit tableau' as described in the passage?
Which of the following best describes the role of the private sector in providing infrastructure according to the passage?
Which of the following best describes the role of the private sector in providing infrastructure according to the passage?
Which of the following is NOT mentioned in the passage as part of a nation's physical infrastructure?
Which of the following is NOT mentioned in the passage as part of a nation's physical infrastructure?
According to the passage, what is the primary motivation for business firms to provide some infrastructure and public services?
According to the passage, what is the primary motivation for business firms to provide some infrastructure and public services?
What is the primary factor that determines whether additional government investments will result in net benefits to society?
What is the primary factor that determines whether additional government investments will result in net benefits to society?
According to the passage, which of the following is NOT a type of physical infrastructure mentioned?
According to the passage, which of the following is NOT a type of physical infrastructure mentioned?
