As Both the Budget and Regulatory Powers of Government Grow

question 204

Multiple Choice

As both the budget and regulatory powers of government grow, public choice analysis indicates that individuals and groups will find it in their interest to

• A) increase their efforts devoted toward market production.
• B) spend less time attempting to secure redistribution through government.
• C) spend more time informing themselves about political issues, so they can cast a well-informed vote.
• D) spend more time rent seeking.

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Definitions:

Optimal Choices

Optimal choices refer to decision-making that maximizes utility or benefit within given constraints, finding the best possible outcome from a set of alternatives.

Scarcity

The basic economic issue arises from the reality of endless human desires facing the constraint of finite resources.

Normative

Pertaining to or expressing judgments based on values, standards, or ideals, often concerning what is right or wrong, or what ought to be.

Positive

Refers to statements or assertions that are objective and based on factual evidence, often used in the context of affirming information in sciences and economics.