Use the Following Preference Table to Answer the Questions $\quad$

question 62

Multiple Choice

Use the following preference table to answer the Questions $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Number of voters }$
$\begin{array} { l c c c } & 1 & 1 & 1 \\\text { First choice } & \text { A } & \text { C } & \text { B } \\\text { Second choice } & \text { B } & \text { A } & \text { D } \\\text { Third choice } & \text { D } & \text { B } & \text { C } \\\text { Fourth choice } & \text { C } & \text { D } & A\end{array}$
-Which candidate wins using sequential pairwise voting with agenda C, A, B, D?

• A) A
• B) B
• C) C
• D) D

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Definitions:

Warrants

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a security at a specified price before a certain date.

Employee Options

A form of employee benefit that gives employees the right to purchase company stock at a set price at a future date.

Debt Options

Financial instruments giving the holder the right, but not the obligation, to deal with debt under specified conditions.

Calls

Options contracts giving the holder the right, but not the obligation, to buy a specified amount of an underlying asset at a specified price within a specified time.