Arrow's Impossibility Theorem Shows That It Is Impossible to Find

question 91

True/False

Arrow's impossibility theorem shows that it is impossible to find a better voting system than pairwise majority voting.

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Definitions:

Periodic Interest Rate

The interest rate charged or earned over a particular period of time, often expressed as a percentage.

Annual Percentage

Often referred to in context of the annual percentage rate (APR), it represents the annual rate charged for borrowing or earned through an investment.

Return Requirement

The minimum rate of return an investor expects to achieve on an investment, influencing the types of assets included in their portfolio.

Cash Flows

The aggregate money movement into and out of an enterprise, significantly impacting its cash on hand.