Each of the Following Explains Why Cost-Benefit Analysis Is Difficult

question 397

Multiple Choice

Each of the following explains why cost-benefit analysis is difficult except

• A)there is no price with which to judge the value of a public good.
• B)surveys are often biased and unreliable.
• C)it is difficult to identify all factors that influence costs and benefits of public goods.
• D)government projects rarely have sufficient funding to complete them on time.

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Definitions:

Social Exchange Theory

The theory that our social behavior is an exchange process, the aim of which is to maximize benefits and minimize costs.

Foot-In-The-Door Phenomenon

A psychological strategy where getting a person to agree to a small request increases the likelihood they will agree to a larger request later.

Critical Thinking

The process of critically assessing and examining a matter to reach a decision.

Social Harmony

The state of peace, smooth functioning, and lack of conflict in a society or group, often achieved through shared norms and values.