Which of the following statements would appeal to someone who favors an expanded public sector as the basis of expansionary fiscal policy?
a. "The government isn't the solution; it's the problem."
b. "The government that governs least governs best."
c. "The American people want national defense; they want laws to be enforced; they want federal support for education and environmental protection, and they want transfer payments for the elderly and unemployed."
d. "If you ever got anything good out of the government you can be sure that some rich so-and-so got more."
c
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The Keynesian approach to government economic policy: a. has emphasized the role of individual self-interest as a powerful stabilizing force. b. has consistently failed to reduce fluctuations in economic activity
c. was ineffective during the 1960s. d. highlighted the role of aggregate demand. e. was rechristened supply-side economics around 1980.
A manager believes there is a 10 percent chance their firm will have to pay $500,000, a 20 percent chance that they will have to pay $400,000 and a 70 percent chance they will be found innocent and pay nothing except the legal fees of $100,000. If the manager chooses to not enter into the litigation and to settle for $230,000 (pay the plaintiff), which of the following is true?
A) The manager is risk intolerant. B) The manager is a risk lover. C) The manager is risk neutral. D) The manager is risk averse.