The Main Point About Public Choice Theory Is That

question 7

Multiple Choice

The main point about public choice theory is that

• A)elected officials never compromise the public interest in order to gain votes.
• B)most politicians are corrupt.
• C)there is adverse selection in the selection of elected officials.
• D)most civil servants act solely in the public interest.
• E)the choices of public officials may be governed more by their own self- interest than the public interest.

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Definitions:

Merit Pay

A pay increase given to employees based on their performance, rewarding those who perform their job well.

Piecework Rate Plan

A compensation system where employees are paid a fixed rate for each unit of production completed, encouraging productivity and efficiency.

Production Workers

Employees who are directly involved in the manufacturing process of goods, playing a crucial role in operational efficiency and product creation.

Differential Piece Rate Plan

A compensation system where employees are paid based on their output, with different rates applied based on the level of production achieved.