The Assumption That Preferences Are Transitive Requires the Consumer

question 37

Multiple Choice

The assumption that preferences are transitive requires the consumer

• A) to rank any two baskets.
• B) to say that basket C is preferred to basket
• A if basket B is preferred to basket A and basket C is preferred to basket B.
• C) to rank a basket with more units of all goods higher than a basket with fewer units of all goods.
• D) to have a diminishing marginal rate of substitution.

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Definitions:

German System

Refers to Germany's model of industrial relations, characterized by a high level of worker participation in management decisions through mechanisms like works councils and co-determination.

Interunion Competition

Competition between different labor unions to represent workers in a particular sector or company.

Independent Labor Unions

Unions that operate independently of existing labor federations or national labor organizations, often focusing on specific workplace issues or industries.

ACFTU

The All-China Federation of Trade Unions, the national trade union organization in the People's Republic of China, serving as the umbrella organization for all Chinese trade unions.