Economic theory indicates that the behavior of
a. government employees differs from the behavior of employees in the private sector because government employees generally disregard their own personal self-interest when making decisions.
b. elected public officials differs from the behavior of all other individuals in society because they are not influenced by private interests.
c. individuals when they make decisions about who to vote for is very different from the behavior of these same individuals when they make other types of choices.
d. voters, government employees, and public officials is best understood by applying the same basic principle we use to predict the behavior of people in the private sector--that incentives matter.
D
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Give an example where individuals "vote with their feet" in choosing among bundles of public goods and tax rates
What will be an ideal response?
Why do individuals hold money when it does not provide the services that, say, a house does?
A) Money is the most liquid asset. B) Money is the only form in which wealth may be held. C) Money increases in value faster than other assets. D) Money is useful in avoiding taxes on certain transactions.