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Author Question: The _____ allows voters to vote on a series of marginally smaller quantities of a good. a. ... (Read 62 times)

NClaborn

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on: Jul 1, 2018
The _____ allows voters to vote on a series of marginally smaller quantities of a good.
 
  a. committee version of the medium voter model
  b. representative democracy version of the medium voter model
  c. referendum version of the medium voter model
   d. cyclical majority

Question 2

The supply-and-demand model may not be appropriate in markets with large transaction costs.
 
  What will be an ideal response?


peilian

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

True. If the costs of finding a trading partner are high, no trades may occur, or trades may occur at a variety of prices.


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