Table 22-3 -Refer to Table 22-3.The Table Shows the Preferences of Three

question 153

Multiple Choice

Table 22-3

-Refer to Table 22-3.The table shows the preferences of three types of voters over three possible outcomes: X,Y,and Z.In addition,the table shows the percentage of voters of each type.Based on this information,which of the following statements is true?

• A)As the Condorcet Paradox predicts, majority rule fails to produce transitive preferences for society.
• B)As Arrow's Impossibility Theorem demonstrates, it is impossible from this information to determine which outcome the voters prefer.
• C)The median voter theorem allows us to conclude that in a vote between X and Y, Y will win since the Type 2 voter is the median voter.
• D)While the Condorcet Paradox predicts that majority rule may not produce transitive preferences for society as a whole, society's preferences in this case are transitive.

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Definitions:

Balance Per Books

The ending balance in a company's accounting records for a specific account.

Notes Collected

Receipts from the collection of promissory notes, representing cash inflows from financial claims against others.

Balance Per Books

The amount of money shown in the company's financial records, not necessarily reflecting cash available or actual account balances due to outstanding transactions.

Error By The Company

A mistake made in the recording, classification, or processing of financial or operational information by the company.