Which one of the following statements is correct?
a. Policymakers have good intentions and therefore their proposals will create good outcomes.
b. Potential secondary effects do not need to be considered when deciding whether to implement a new government program.
c. A good outcome is guaranteed from a government program if it is created with good intentions.
d. Government programs can be implemented with good intentions but can lead to undesirable outcomes because of unintended consequences.
D
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Refer to the scenario above. The best approach to play this game is to use:
A) a dominant strategy. B) backward induction to come to a decision. C) a credible commitment to influence the payoffs of the game. D) a mixed strategy.
The impact of crowding out may be the least
A) when real GDP is above but close to potential GDP. B) during a deep recession. C) when real GDP is below but close to potential GDP. D) during an expansion.
When a budget is not approved in time, _____
a. agencies operate on the basis of continuing resolutions b. agencies operate on the basis of a budget resolution developed by budget committees c. agencies tend to shuts down d. the President can force Congress to act e. agencies borrow from the Federal Reserve
If the U.S. dollar depreciates in value relative to foreign currencies, then this will:
A. decrease aggregate demand and increase aggregate supply. B. decrease aggregate demand and aggregate supply. C. increase aggregate demand and aggregate supply. D. increase aggregate demand and decrease aggregate supply.