The Best Example of Institutional Bias Reflecting the History of Its

question 75

Multiple Choice

The best example of institutional bias reflecting the history of its creation is the:

• A)one country-one vote procedure in the United Nations General Assembly.
• B)unanimous consent of the Council of Ministers of the European Economic Community before 1986.
• C)veto power of the five permanent members on the United Nations Security Council.
• D)qualified majority voting rule of the European Union.
• E)consensus procedure in the World Trade Organization (WTO).

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.

Quantity Sold

The total number of units of a product or service that have been purchased in a given period.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.