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It Is the First Day of School

question 45

Multiple Choice

It is the first day of school. Two children get into an argument over a basketball. Which of the following actions should the teacher pursue?


Definitions:

Paradox of Voting

The situation where individual rationality does not lead to collective rationality, suggesting that the cost of voting outweighs the apparent benefits.

Median-Voter Model

A theoretical model suggesting that the outcome of majority rule voting systems will reflect the preferences of the median voter.

Law of Diminishing Marginal Utility

The principle that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit.

Ability-To-Pay Principle

The idea that those who have greater income (or wealth) should pay a greater proportion of it as taxes than those who have less income (or wealth).

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