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In the system of approval voting, each voter may vote for as many candidates as she wishes. If there are three candidates, a voter may vote for 1,2, or 3 candidates. The winner is the candidate receiving the most votes (listed on the ballot of the most citizens). Each voter has strict preferences over the candidates (such as preferring candidate 3 to candaidate 2 to candidate 1, with no indifference).
A. Show that any action that includes a vote for one's least preferred candidate is weakly dominated.
B. Show that any action that does not include a vote for one's most preferred candidate is weakly dominated.
C. Suppose voter A perfers candidate 1 to 2 to 3 to 4 (where there are 4 candidates). Show that all actions that consist of voting for up to three candidates and not skipping a lower numbered candidate are not weakly dominated (voting for 1 only, voting for 1 and 2, or voting for 1,2, and 3 are not weakly dominated).
Illustrate the steps comprised in pricing the television units in order to maximize total revenue.
The fiscal policy makers of Leverett want to adjust taxes to maintain the exchange rate at its previous level. What should they do If they do this, what are the overall effects on saving, investment, net exports, and the interest rate
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illustrtae what are some of the price and how do expectations inluence the effects of inflation.
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