Assume there are nine voters in a certain small town and let x = the preferred number of dollars spent per person per month on garbage collection. For Voters 1, 2, and 3, x = $10; for Voter 4, x = $15; for Voter 5, x = $18; and for Voters 6, 7, 8 and 9, x = $20 . Based on these preferences, which of these dollar amounts will win over any one of the others?

Under adaptive expectations theory, people persistently:

a. underestimate inflation when it is slowing down. b. overestimate inflation when it is accelerating. c. underestimate inflation when it is accelerating. d. adapt to the prevailing inflation rate.

Because of economic scarcity

a. there are not enough jobs for everyone b. people are afraid to become entrepreneurs c. the government interferes in the economy d. businesses cannot obtain the resources they need e. people and organizations have to allocate resources carefully