Suppose that residents of a town are asked to vote on the best day to improve the safety of an intersection. The three choices are: a stoplight, a 4-way stop, and a 2-way stop. The mayor asks the residents to assign 3 points to their first choice, 2 points to their second choice, and 1 point to their last choice. The intersection will be controlled by the method that receives the most points
This voting scheme is called
a. Arrow's impossibility theorem.
b. the Condorcet paradox.
c. a Borda count.
d. the median voter theorem.
c
Economics
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Which of the following causes autonomous consumption to decrease?
A) a decrease in consumer income B) consumers becoming more optimistic about future decreases in the price level C) an increase in average family size D) consumers becoming more thrifty
Economics
In a perfectly competitive market that is in long-run equilibrium, a rightward shift in the market demand curve results in
A) the price falling in the short run. B) the firms' economic profits falling in the short run. C) firms leaving the industry in the long run. D) none of the events listed above.
Economics