Consider the Allocation of a Nation's Resources Between Additional Public-Sector

question 33

Multiple Choice

Consider the allocation of a nation's resources between additional public-sector spending versus additional private spending.John Kenneth Galbraith argued that

• A)the value of the marginal dollar spent by government is less than the value of that dollar left in the hands of households or firms.
• B)public sector spending is always subject to corruption and is therefore not as valuable as private spending.
• C)the marginal utility of an additional dollar's worth of spending on public goods is higher than an additional dollar's worth of spending on private goods.
• D)compared to public spending,private spending leads to more sustained long-run economic growth.
• E)compared to private spending,public spending leads to more sustained long-run economic growth.

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Definitions:

Voluntary Manslaughter

The intentional killing of another person without premeditation, but under circumstances that can mildly mitigate, but not justify, the act.

Embezzlement

The act of wrongfully appropriating funds or property entrusted to one's care but owned by someone else.

Medical Expenses

Costs incurred for healthcare services, treatments, and procedures to maintain one's health.

Larceny

The unlawful taking of personal property with the intent to deprive the rightful owner of it permanently.