Table 22-3 the Citizens of Anytown Will Decide Whether to Build a Build

question 25

Multiple Choice

Table 22-3
The citizens of Anytown will decide whether to build a new library, a new community center, or a new ice rink. Exactly one of the three choices will prevail, and the choice will be made by way of pairwise voting, with the majority determining the outcome on each vote. The preferences of the voters are summarized in the table below.

-Refer to Table 22-3.If (1) the first vote pits "library" against "community center," and (2) the second vote pits "ice rink" against the winner of the first vote,then the outcome is as follows:

• A) "Library" wins the first vote and "library" wins the second vote, so they build a library.
• B) "Library" wins the first vote and "ice rink" wins the second vote, so they build an ice rink.
• C) "Community center" wins the first vote and "community center" wins the second vote, so they build a community center.
• D) "Community center" wins the first vote and "ice rink" wins the second vote, so they build an ice rink.

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Definitions:

Fourth Market

Direct trading of stocks and securities among investors or institutions without the use of a broker or public exchange.

Exchange-Listed Stocks

Shares of companies that are traded on a formal exchange, such as the New York Stock Exchange or Nasdaq.

Corporate Ownership

The legal ownership of a corporation, typically represented by shares of stock which provide voting rights and potential dividends to their holders.

Common Stock

Shares that give owners voting rights but only residual claims to the firm’s assets and income distributions.