Assume That Matt, Joe, and Teresa Are the Only Citizens

question 72

Multiple Choice

Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a total cost of $1000. All three citizens will share an equal portion of this cost in taxes. The benefit of the public good is $500 for Matt, $280 for Joe, and $260 for Teresa. In a majority vote, this proposal will most likely be:

• A) Accepted; two in favor and one against
• B) Defeated; two against and one in favor
• C) Accepted; three in favor and none against
• D) Defeated; none in favor and three against

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Definitions:

Investment of Time

The allocation of time towards a particular activity or project with the expectation of receiving benefits or value from it in the future.

Uniform Partnership Act

A model law adopted by various states to govern the operation of partnerships with the aim of making laws consistent across states.

Operation of Partnerships

The way in which partnerships are managed and governed, detailing the roles, responsibilities, and profit-sharing among partners.

Different Agreement

Refers to an alternate or varied contractual arrangement distinct from an original or previous one.