Which of the following statements about state lotteries is false?
A. State lotteries are monopolies, with competing private lotteries banned
B. State lotteries are highly controversial, with critics and defenders still debating their merits
C. Less than half of the states in the U.S. have state lotteries because of their controversial nature
D. The payout rates of state lotteries are substantially lower than in private betting operations like casinos
C. Less than half of the states in the U.S. have state lotteries because of their controversial nature
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Public choice deals with
A) negative and positive externalities. B) public-sector decision making. C) how people choose between several mutually exclusive options. D) bond, stock, and money markets. E) none of the above
The reason a corporation has retained earnings is to
A) pay unemployment taxes. B) make investments that will increase the value of the stock. C) avoid the double taxation of corporate profits. D) be able to make unemployment payments.