An important assumption in the theory of public choice is that
A) individuals will act within the political process to maximize their individual well-being.
B) individuals will act within the political process to maximize their collective well-being.
C) individuals will only operate outside the political process when their well-being is involved.
D) scarcity does not exist in the government sector.
A
You might also like to view...
The government budget constraint implies that
A) government borrowings = government spending+ transfers - taxes and user charges. B) government borrowings = taxes and user charges + government spending - transfers C) government spending = transfers - taxes and user charges - government borrowing. D) government spending = government borrowing - transfers - taxes and user charges
Portfolio investment means the
A) purchase of less than 20 percent of the shares of ownership in a company in another country. B) purchase of less than 50 percent of the shares of ownership in a company in another country. C) purchase of less than 80 percent of the shares of ownership in a company in another country. D) purchase of less than 10 percent of the shares of ownership in a company in another country.