Which of the following provides the best summary of the basic idea of public choice analysis?
a. Public choice analysis applies the principles of economics to political science topics.
b. Public choice analysis takes the principles of political science and applies them to the traditional topics of economics.
c. Public choice analysis uses the principle of majority rule to determine the efficiency of an action.
d. Public choice analysis indicates there is a sharp distinction between economic and political topics.
A
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At a consumer optimum involving goods X and Y, the marginal utility of good X equals 5 utils. The price of good Y is three times the price of good X. What is the marginal utility of good Y?
A. 5. B. 3. C. 15. D. There is not enough information.
Fiscal policy is concerned with:
a. encouraging businesses to invest. b. regulation of net exports. c. changes in government spending and/or tax revenues. d. expanding and contracting the money supply.
Economists and accountants use the same definition of profit
a. True b. False Indicate whether the statement is true or false
The stages of development in a company's export expansion are tied to company size.
a. true b. false