Answered: Please answer 18 , 19 and 20 18.…

Social Psychology (10th Edition)

10th Edition

ISBN:9780134641287

Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers

Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers

Chapter1: Introducing Social Psychology

Section: Chapter Questions

Problem 1RQ1

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Please answer 18 , 19 and 20 18. Nozick’s third principle acknowledges: a. that reaching majority assists efforts to eradicate poverty b. for democracy to be ineffective, every individual must be given one vote and the issue or policy receiving the most votes is the one that wins c. that in a representative democracy individual voters do not elect representatives who make decisions on their behalf. d. the challenges inherent in redistributing resources between individuals. 19. For the efficient pricing rule for private goods to hold: a. marginal cost should equal marginal revenue b. the consumption of a private good cannot be restricted to given individuals c. private goods need to be wholly divisible amongst individuals d. price must equal marginal cost 20. It is vital that government manages its spending prudently as excessive expenditure growth can: a. lead to rising general prices and stifle private investment b. create jobs to relieve unemployment pressures in the economy c. promote capital inflows that drive investment expenditure d. promote or obstruct efficiency and equity.

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