The Arrow Impossibility Theorem

question 92

Multiple Choice

The Arrow impossibility theorem

• A)explains why people can be rational as well as ignorant at the same time.
• B)explains why voting systems do not consistently represent the preferences of voters.
• C)explains why candidates for public office must represent the preferences of the political middle.
• D)explains why it is impossible, in most cases, to eliminate special-interest legislation after it has become law.

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Definitions:

Political Speech

Speech that is used to support political candidates or referenda. Compared to other types of speech, it is given a high level of protection by the First Amendment.

First Amendment

The First Amendment is a part of the U.S. Constitution that protects freedoms of speech, religion, press, assembly, and the right to petition the government.

Corporations

Legal entities separate from their owners, providing limited liability, ease of transferability of shares, and perpetual existence.

Checks and Balances

A system in democratic governments designed to prevent any one branch from gaining excessive power by providing each branch with the authority to check the actions of the others.