What Is the Name of the Mathematical Result Showing That

question 27

Multiple Choice

What is the name of the mathematical result showing that no voting system can simultaneously satisfy the properties of unanimity, transitivity, independence of irrelevant alternatives, and no dictators?

• A)The fundamental theorem of behavioral economics
• B)Arrow's impossibility theorem
• C)The fundamental theorem of voting
• D)The median voter theorem

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Definitions:

Initial Cost

The original acquisition cost of an asset or investment, prior to any adjustments for depreciation, improvement, or amortization.

Fixed Asset

A Fixed Asset is a long-term tangible piece of property that a company owns and uses in its operations to generate income, and not expected to be consumed or converted into cash within a year.

Straight-Line Depreciation

A plan to allocate the price of a concrete asset in consistent yearly fractions over its lifespan.

Salvage Value

The forecasted selling price for an asset once it reaches the end of its operational life.