Which of the following statements best summarizes the essence of public choice analysis?
a. Public choice analysis applies economic principles to political science issues
b. Public choice analysis applies political science principles to traditionally economic issues.
c. Public choice analysis assumes that government leaders are primarily motivated by what is best for the community, unlike private interest groups.
d. none of the above
a
Economics
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Which of the following is an example of an injection into the circular flow of income and expenditure?
a. Consumption b. Exports c. Taxes d. Saving e. Government borrowing
Economics
If production of a good creates beneficial externalities, a perfectly competitive market will produce
a. less output than would maximize profit. b. more output than would maximize profit. c. less output than is socially efficient. d. more output than is socially efficient.
Economics