The theory of public choice
A. Examines why the public rejects so many bond referendums.
B. Explains the selfless pursuit of public goals by public servants.
C. Examines how a policy of laissez faire works to allocate resources.
D. Emphasizes the self-interest of decision makers and voters.
Answer: D
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A firm whose price is matched by other firms in the market as a form of tacit collusion is called:
a. a profit maximizing firm. b. a price taking firm. c. an output leader. d. a price leader.
The issuance of new debt in payment of previously issued debt is called refinancing.
Answer the following statement true (T) or false (F)
Which of the following would cause an outward shift of aggregate demand?
a) an increase in interest rates b) an increase in tax rates c) the expectation of higher income d) improvements in technology e) an increase in imports
Exhibit 7-11 Short-run cost schedule for pizzeria's hourly production TotalProduct TotalCost 0 pizzas $ 20 10 70 20 100 30 150 40 250 In Exhibit 7-11, the marginal cost curve crosses the average total cost curve at
A. 10 pizzas. B. 20 pizzas. C. 30 pizzas. D. 40 pizzas.