Bureaucracy Is Preferable to Democracy in Making Decisions When ______

question 33

Multiple Choice

Bureaucracy is preferable to democracy in making decisions when ______.

• A) we can afford the time to deliberate
• B) we require expertise and dispatch
• C) a decision is of minor importance
• D) it is essential that a decision be popular
• E) a decision is too important to be left to the people

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Definitions:

Sinking Fund

A fund established by an entity by setting aside revenue over time for the purpose of paying off debt or replacing a future expense.

Protective Covenants

Clauses in a contract or bond indenture that restrict the borrower from certain activities, aiming to protect creditors.

Real Rates

Interest rates or rates of return that have been adjusted for inflation, showing the real purchasing power of the amount.

Nominal Rates

Interest rates or rates of return on investment that have not been adjusted for inflation, representing the face value of financial instruments.