There Are Three Parties to a Check

question 24

Multiple Choice

There are three parties to a check.The person who signs the check is the:

• A)maker.
• B)payee.
• C)draftee.
• D)promisee.

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Definitions:

Public Choice Theory

A theory in economics and political science that studies how public sector actions and policies are influenced by the self-interest of individuals, especially politicians and bureaucrats, as opposed to the public good.

Keynesian Economics

An economic theory stating that government intervention is necessary to help economies emerge from recession, through policies that stimulate demand, control inflation, and adjust interest rates.

Paradox of Voting

The concept that for a rational, self-interested voter, the costs of voting will normally exceed the expected benefits, given the low probability that one vote will influence the outcome.

Majority Voting

A voting system in which decisions are made based on the majority of votes received, often used in elections and organizational decision-making processes.