Question 1

Conflict of interest arises in a society because ________.&#10;A) all policies lead to Pareto improvements&#10;B) individuals have opposing economic interests&#10;C) citizens can influence government policies&#10;D) governments have unrestricted power

Accepted Answer

Conflicts of interest in society often arise because individuals or groups have opposing economic interests, leading to disagreements on policies or resource distribution.

Question 2

Which of the following is an example of a conflict of interest?&#10;A) The local government is unable to proceed with the freeway project because of the discontent expressed by some of the residents in the neighboring villages.&#10;B) A bill is passed with full consent in the House of Representatives.&#10;C) The commanding officer of a marine unit transfers two marines to a different unit without any intimation.&#10;D) An employee gets an award for achieving a sales target set by the employer.

Accepted Answer

A conflict of interest occurs when an individual or organization is involved in multiple interests, one of which could possibly corrupt the motivation for an act in another. In option A, the local government's decision-making process could be influenced by the discontent of the residents, potentially leading to a conflict between the government's duty to proceed with public projects and the interests of the local residents.

Question 3

Political economy is the study of ________.&#10;A) different political leaders in different economies&#10;B) different political parties within a country&#10;C) how citizens influence government policy&#10;D) how the economy recovers after a political turmoil

Accepted Answer

Political economy examines the relationship between politics and economics, including how government policy influences economic behavior and how economic forces can shape political decisions.

Question 4

________ is the political system in which public officials are elected by the people.&#10;A) Monarchy&#10;B) Communism&#10;C) Dictatorship&#10;D) Representative democracy&#10;

Accepted Answer

Representative democracy is the political system where public officials are elected by the people to represent their interests in the government.

Question 5

In Carribia, public officials are elected by the citizens, and are empowered to act on behalf of the citizens. Carribia's political system is an example of a(n) ________.&#10;A) representative democracy&#10;B) dictatorship&#10;C) monarchy&#10;D) totalitarianism

Accepted Answer

Carribia's system, where public officials are elected by citizens to act on their behalf, is characteristic of a representative democracy. This is because in a representative democracy, citizens elect representatives to make decisions and govern on their behalf.

Question 6

Realmium is ruled by a single person who pursues policies of her own interest. Realmium's political system is an example of a(n) ________.&#10;A) representative democracy&#10;B) dictatorship&#10;C) anarchy&#10;D) totalitarianism

Accepted Answer

A dictatorship is a form of government where a single person or a small group holds absolute power, often pursuing policies in their own interest without regard for the will of the people.

Question 7

Who among the following act(s) on behalf of the citizens in a representative democracy?&#10;A) Public officials&#10;B) A militant group&#10;C) A religious leader&#10;D) The royal family

Accepted Answer

In a representative democracy, public officials are elected or appointed to act on behalf of the citizens, making decisions and creating laws that reflect the will and interests of the populace. Militant groups, religious leaders, and royal families do not inherently represent the citizens in the context of a representative democracy.

Question 8

In a representative democracy, ________.&#10;A) public officials are appointed by the king&#10;B) the government can be voted out of office&#10;C) a militant group or coup forms the government&#10;D) the office of the head of the government is hereditary

Accepted Answer

In a representative democracy, citizens elect officials to represent them in the government, and these officials can be voted out of office if the electorate is dissatisfied with their performance. This is a fundamental principle of representative democracies, distinguishing them from monarchies, dictatorships, or other forms of government where leaders are not elected by the populace or cannot be easily removed from power through elections.

Question 9

The term democracy has its roots in ________.&#10;A) China&#10;B) the Middle East&#10;C) Ancient Greece&#10;D) Africa

Accepted Answer

The term democracy originates from Ancient Greece, specifically from the Greek words "demos" (meaning "people") and "kratos" (meaning "power" or "rule"), thus translating to "rule by the people."

Question 10

Which of the following is true of a monarchy?&#10;A) The government can be voted out of office.&#10;B) A military coup or group forms the government.&#10;C) All decisions about governance are taken by the citizens.&#10;D) Those in power are not replaced through elections.

Accepted Answer

In a monarchy, the head of state is usually a king, queen, or emperor, and their position is often inherited rather than elected, meaning they are not replaced through regular electoral processes.

Question 11

Which of the following is true of a dictatorship?&#10;A) The key executives of the government are elected.&#10;B) A military coup or group forms the government.&#10;C) All decisions about governance are taken by the citizens.&#10;D) Those in power are not replaced through elections.

Accepted Answer

The answer of Which of the following is true of...

Question 12

If John prefers tea to coffee and coffee to milk shake, we would know for sure that John prefers tea to milk shakes. This property, which preserves consistency in the choices that an individual would make, is referred to as ________.

A) positivity
B) externality
C) transitivity
D) stochasticity

Accepted Answer

The answer of If John prefers tea to coffee and...

Question 13

An individual prefers Choice A to Choice B and Choice B to Choice C. His preferences are transitive if ________.&#10;A) he prefers Choice A to Choice C&#10;B) he is indifferent between Choice A and Choice C&#10;C) he prefers Choice C to Choice A&#10;D) he is indifferent between Choice C and a fourth choice, D.

Accepted Answer

The answer of An individual prefers Choice A to Choice...

Question 14

Jim prefers Hotel A to Hotel B and Hotel B to Hotel C. If Jim?s preferences are transitive,________.&#10;A) he will be indifferent between hotels A and C&#10;B) he will prefer Hotel A to Hotel C&#10;C) he will prefer Hotel C to Hotel A&#10;D) he will be indifferent between Hotel A and any other hotel

Accepted Answer

The answer of Jim prefers Hotel A to Hotel B...

Question 15

Layla prefers reading to walking and walking to swimming. If her preferences are transitive, ________.&#10;A) she would prefer swimming to reading&#10;B) she would prefer reading to swimming&#10;C) she would be indifferent between reading and swimming&#10;D) she would be indifferent between reading and any other fourth activity

Accepted Answer

The answer of Layla prefers reading to walking and walking...

Question 16

Johnathan prefers pastas to burgers, and pizzas to pastas. If his preferences are transitive,________.&#10;A) he would prefer pizzas to burgers&#10;B) he would prefer burgers to pizzas&#10;C) he would be indifferent between pizzas and burgers&#10;D) he would be indifferent between pizzas and any fourth food item

Accepted Answer

The answer of Johnathan prefers pastas to burgers, and pizzas...

Question 17

________refers to the condition that if there is a vote between two options, 1 and 2, and all voters prefer 1 to 2, then 1 should be selected.&#10;A) Unanimity&#10;B) Transitivity&#10;C) Externality&#10;D) Positivity

Accepted Answer

The answer of ________refers to the condition that if there...

Question 18

________refers to the condition that if there is a vote between 1 and 2, then the preferences of voters concerning the comparison of one of these against some third option, say option 3, should have no bearing on the outcome of the vote.

A) Transitivity
B) Unanimity
C) Interdependence of irrelevant alternatives
D) Independence of irrelevant alternatives

Accepted Answer

The answer of ________refers to the condition that if there...

Question 19

Which of the following best illustrates the property of transitivity of preferences?&#10;A) X is preferred to Y, Y is preferred to Z, and X is preferred to Z.&#10;B) X is preferred to Y, Y is preferred to Z, and Z is preferred to X.&#10;C) X is preferred to Y by some voters and Y is preferred to Z by others.&#10;D) X is preferred to Y and Z is preferred to Y.

Accepted Answer

The answer of Which of the following best illustrates the...

Question 20

According to Arrow's condition of unanimity in a voting scheme, if there is a vote between two options X and Y, ________.&#10;A) and all voters prefer Y to X, then X will be selected&#10;B) and X is preferred to Y by all voters, Y is the political bliss point for all voters&#10;C) and all voters prefer X to Y, then X will be selected&#10;D) and X is preferred to Y, voters have multiple-peaked preferences

Accepted Answer

The answer of According to Arrow's condition of unanimity in...

Question 21

The ________refers to the failure of transitivity in collective preferences implied by voting behavior.&#10;A) Dutch disease&#10;B) Condorcet Paradox&#10;C) paradox of thrift&#10;D) prisoners' dilemma

Accepted Answer

The answer of The ________refers to the failure of transitivity...

Question 22

Which of the following three conditions should a reasonable voting scheme satisfy according to Arrow?&#10;A) Unanimity, transitivity, and stochasticity&#10;B) Unanimity, transitivity, and mutual exclusiveness&#10;C) Unanimity, stochasticity, and mutual interdependence&#10;D) Unanimity, transitivity, and independence of irrelevant alternatives

Accepted Answer

The answer of Which of the following three conditions should...

Question 23

Which of the following refers to a situation in which two parties competing for office both offer the same policy platform?&#10;A) Political realism&#10;B) Benevolent despotism&#10;C) Policy convergence&#10;D) Policy deadlock

Accepted Answer

The answer of Which of the following refers to a...

Question 24

Refer to the table above. Which of the following is true?&#10;A) The society takes a unanimous decision to employ 6 security guards.&#10;B) The cumulative preference in this situation does not guarantee transitivity .&#10;C) The voters prefer 2 guards over 4 guards, when asked to choose between employing either 2 or 4 guards.&#10;D) The voters prefer 4 guards over 6 guards, when asked to choose between employing either 4 or 6 guards.

Accepted Answer

The answer of Refer to the table above. Which of...

Question 25

The table below shows the preferences of three neighbors regarding the number of security guards they need to guard their locality.

-Refer to the table above. Which of the following statements is true if the voters are asked to give their preferences between 2 and 4 security guards?

A) The collective choice of Joseph, Catherine, and Bob between 2 and 4 security guards would be employing 2 security guards.
B) Catherine prefers employing 2 security guards, if given a choice to employ either 2 or 4 guards.
C) The collective choice of Joseph, Catherine, and Bob between 2 and 4 security guards would be employing 4 security guards.
D) Bob prefers employing 2 security guards, if given a choice to employ either 2 or 4 guards.

Accepted Answer