When Government Failure Is Present

question 92

Multiple Choice

When government failure is present,

• A) market allocation will lead to an outcome consistent with idealized economic efficiency.
• B) the political process will lead to an outcome consistent with idealized economic efficiency.
• C) there is a conflict between what is best for individual decision-makers and getting the most value out of resources.
• D) political corruption will be widespread because this is the primary factor underlying government failure.

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Definitions:

Inductive Arguments

A type of reasoning that draws general conclusions from specific observations or instances.

Categorical Syllogisms

A form of deductive reasoning consisting of three parts: a major premise, a minor premise, and a conclusion, each of which may be categorized by their statements.

Freshman Survey

A questionnaire or study conducted to gather information about the experiences, preferences, or characteristics of students in their first year of college.

Inductive Argument

A form of reasoning in which the premises seek to supply strong evidence for the truth of the conclusion.