If a pair-wise majority vote was held and the voters' preferences are shown in the table, which option would win overall?
A. Public transportation
B. Public zoo
C. Public parks
D. It is impossible to predict which option would win.
D. It is impossible to predict which option would win.
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In the figure below, the economy is initially in long-run equilibrium at point A. If there is an adverse supply shock that reduces potential output and shifts the long-run aggregate supply curve from LRAS to LRAS', then the new long-run equilibrium is reached at point: 
A. C. B. D. C. E. D. B
Discretionary monetary policy was more frequently employed than discretionary fiscal policy in the two decades following World War II because
A) economic conditions did not seem to require any use of fiscal policy tools during this period. B) economists did not yet believe in the effectiveness of fiscal policy. C) inflation was not yet seen as a problem. D) monetary policy could be altered without Congressional action. E) monetary policy was thought to be capable of raising output while holding down prices.
Refer to Figure 4-1. If the market price is $3.50, what is the maximum number of ice cream cones that Kendra will buy?
A) 1 B) 2 C) 3 D) 4
If your long-run costs exhibit increasing returns to scale, securing big orders leads you to
a. Increase average costs b. Reduce average costs c. Keep the average costs constant d. None of the above