Public choice theorists insist that when a person goes from public to private employment, his or her motivations __________ while the institutional arrangements shaping his or her actions __________
A) remain the same; change
B) remain the same; also remain the same
C) change; also change
D) change; remain the same
A
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A perfectly competitive firm in a constant-cost industry produces 1,000 units of a good at a total cost of $50,000. If the prevailing market price is $48, the number of firms and the industry's output will decrease in the long run
Indicate whether the statement is true or false
The optimal decision rule is less than unanimity
a. True b. False
A commercial bank’s ability to create money depends on which of the following?
A. The existence of a central bank B. A fractional reserve banking system C. Gold or silver reserves backing up the currency D. A large national debt E. The existence of both checking accounts and savings accounts
Bay City Mining, Inc has a price of $20 a share, outstanding shares of 2.5 million, retained earnings of $1 million dollars, and a dividend yield of 2 percent. It has a price-earnings ratio of
a. 50, which is high by historical standards. b. 50, which is low by historical standards. c. 25, which is high by historical standards. d. 25, which is low by historical standards.