Voters Are Making a Choice to Spend Money on Three

question 67

Multiple Choice

Voters are making a choice to spend money on three projects: a dam, a school, or a road. In the choice between the dam and the school, the majority favors the school. In a choice between a dam and a road, the majority favors a dam. In a choice between a road and a school, the majority favors a road. These rankings indicate that majority voting may:

• A) Result in economically efficient outcomes because of rent-seeking behavior
• B) Reflect irrational preferences
• C) Produce inconsistent choices
• D) Lead to consistent choices in spite of irrational community preferences

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Definitions:

Converse

In logic, it refers to reversing the direction of a given implication; in geometry, it involves swapping the hypothesis and conclusion of a statement.

Proposition

In logic, a declarative sentence that is either true or false, serving as the building block for constructing arguments.

Converse

In logic, the converse of a statement is the reversal of its subject and predicate, testing different aspects or implications of the original statement.

Proposition

A declarative sentence or phrase that can be either true or false, expressing a basic statement or assertion.