Legislation that offers immediate and easily recognized benefits, at the expense of costs that are observable only in the distant future, is often enacted even when economic inefficiency results. This can be expected because of
a. a lack of incentive for operational efficiency in the public sector.
b. market failure.
c. the special-interest effect.
d. the shortsightedness effect.
D
Economics
You might also like to view...
The opportunity cost of holding money
a. decreases when the interest rate decreases, so people desire to hold more of it. b. decreases when the interest rate decreases, so people desire to hold less of it. c. increases when the interest rate decreases, so people desire to hold more of it. d. increases when the interest rate decreases, so people desire to hold less of it.
Economics
As of December 2010, the largest single component of M2 consists of
A. checkable deposits at banks. B. cash, coins, and other currency. C. savings deposits. D. gold and silver in commodity accounts.
Economics