If Voters Are Rationally Ignorant, Then the Interest of the Bureaucracy

question 101

True/False

If voters are rationally ignorant, then the interest of the bureaucracy to maximize its budget will result in an oversupply of a public good.

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Definitions:

Property, Plant, and Equipment

Tangible assets used in the operation of a business, expected to provide benefits for more than one period, such as buildings and machinery.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, resulting in net profit or loss.

Balance Sheet

A financial summary showing a company's assets, liabilities, and equity from shareholders at a designated time.

Prepared

The state of being ready for a specific event, action, or process, often involving prior planning or setup.