Suppose there are 3 possible outcomes to a vote: A, B, and C. If voters prefer A to B, C to B, and A to C, which of the following concepts are violated?

The figure above shows a production possibilities frontier. In the figure, when the economy moves from point E to point D, what is the opportunity cost of a DVD?

A) 0.25 cell phones B) 0.5 cell phones C) 1 cell phone D) 4 cell phones E) zero

The country of Epsilon has continuous strong economic growth and a steady price level. This situation is most likely the result of aggregate demand growing ________ aggregate supply

A) at the same pace as long-run B) slower than long-run C) slower than short-run D) faster than long-run