In Pavlov's famous physiological experiments with dogs, he paired a bell with presentation of food. Over a period of time, dogs were observed to start drooling (salivating) when they heard the bell only. What was the conditioned stimulus?

A) skeletal nervous system
B) salivation
C) meat powder
D) bell

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.

A(n) ________ is a person who signs an instrument to restrict payment of it,negotiate it,or incur liability.

A) maker
B) acceptor
C) drawer
D) endorser
E) promisor

The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy. This statement best describes the concept of

A) derived demand.
B) consumer sovereignty.
C) the invisible hand.
D) market failure.