Coach steroid likes his players to be big, fast, and obedient. if player a is better than player b in two of these three characteristics, steroid will prefer a to b. three players try out for quarterback. wilbur westinghouse weighs 320 pounds, runs very slowly, and is quite obedient. harold hotpoint weighs 240 pounds, runs extremely fast, and is extremely disobedient. jerry jacuzzi weighs 150 pounds, runs at average speed, and is extremely obedient. does coach steroid have transitive preferences?

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment. b. the allocation of resources between private markets and the public sector. c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t. d. differences in productivity. e. ones that think at the margin and respond to incentives and those that don’t.