Refer to the table. The inconsistency illustrated by the table is that, while a majority of voters prefer the:
A. highway to the lighthouse and the submarine to the highway, they also prefer the
lighthouse to the submarine.
B. lighthouse to the highway and the lighthouse to the submarine, they also prefer the
submarine to the highway.
C. highway to the lighthouse and the submarine to the lighthouse, they also prefer the
submarine to the highway.
D. lighthouse to the submarine and the highway to the submarine, they also prefer the
highway to the lighthouse.
A. highway to the lighthouse and the submarine to the highway, they also prefer the
lighthouse to the submarine.
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When demand increases and supply decreases by the same amount, the equilibrium quantity ________ and the equilibrium price ________
A) decreases; rises B) decreases; falls C) decreases; does not change D) decreases; might rise, fall, or not change E) does not change; might rise, fall, or not change
Which of the following is true if all the national debt were owned internally?
a. The federal government would not need to refinance the national debt. b. The federal government would not need to worry about raising taxes to pay interest on the national debt. c. We would still be concerned about the effect on the distribution of income from interest payments on the national debt. d. All of these are true.