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


C. Produce inconsistent choices

Economics

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If a country has a lower opportunity cost in producing a good than its trading partners, then it has:

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Economics