The Simple Majority Decision Rule May Generate Results That Are

question 37

Multiple Choice

The simple majority decision rule may generate results that are

• A) efficient,because the projects undertaken are the ones desired by more than 50 percent of the people.
• B) efficient,because projects are undertaken only if total benefits exceed total costs.
• C) efficient,because the intensity of individuals' preferences are considered.
• D) inefficient when the total benefits of projects undertaken are less than the total costs.
• E) inefficient when the intensity of individuals' preferences are considered.

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Definitions:

Equilibrium Wage

The salary level where the amount of work sought by employers matches the amount of work offered by employees.

Wage Discrimination

The practice of paying different wages to employees who do similar work based on the employees' gender, race, age, or other non-merit-based factors.

Objective Measures

Assessments based on observable and measurable facts, used in various fields to ensure fairness and accuracy in decision-making.

Professional Sports

Athletic activities and competitions conducted by individuals who receive financial compensation for their performance.