Economic Theory and History Indicate That Open Elections and Democratically

question 73

Multiple Choice

Economic theory and history indicate that open elections and democratically elected governments

• A) are unique in their ability to produce good economic institutions.
• B) must be accompanied by economic institutions that will allocate resources efficiently, or otherwise democratic institutions will not survive.
• C) reflect only transactions that are based on mutual agreement and voluntary exchange.
• D) are unable to guarantee either the emergence or continuation of economic institutions and policies that will encourage productive behavior.

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Definitions:

Total Manufacturing Cost

The sum of all costs directly involved in the production of goods, including raw materials, labor, and overhead.

Schedule

An organized plan for tasks or events, often listed in chronological order or steps.

Cost of Goods Available

The total cost of all inventory that was available for sale during a period, including both starting inventory and the cost of goods produced or purchased.

Schedule

An arranged list or plan that specifies times at which events are intended to occur, often used for planning and organizing tasks or activities.