Answer Happy

1)
Which of the following is true of all social insurance
programs?
The initiation of payments depends on the occurence of some kind
of event in a person's life.
They are paid for by funds contributed only by employers.
Whether a person receives payments is contingent on the wealth
and/or income of the covered person.
They are paid for by funds contibuted only by employees.
2)
Arrow's Impossibility Theorem refers to:
the difficulty of attaining a Lindahl equilibrium.
the fact that there are many equivalent ways to aggregate
individual preferences into a consistent aggregate decision but the
different methods do not yield the same outcomes.
the idea that no general voting rule can be devised to
consistently maximize the well-being of the citizens.
the fact that the outcome of the median voter model cannot
possibly be a socially efficient outcome.
3)
Voter
Type
Type 1 Type 2 Type
3
Percentage
of Electorate 25% 55% 20% (For
simplicity assume 100 voters
First choice A B C in
the electorate)
Second choice B C A
Third choice C A B
With the Borda count, method, B is preferred to C which in turn
is preferred to A. Does the system display "independence of
irrelevant alternatives"?
No; if we eliminate C, now A is preferred to B.
No; if we eliminate A, now C is preferred to B.
Yes; the order of the preferences remains the same.
No; if we eliminate B, now A is preferred to C.
Two of the "No" answers are correct.