Getting Lots of Independent Opinions from Average People _____

question 47

Multiple Choice

Getting lots of independent opinions from average people _____.

• A)usually leads to very poor choices
• B)produces mediocre ideas and weak decisions
• C)makes for collective wisdom
• D)creates more problems than it solves

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Definitions:

Circular Flow Model

An economic model illustrating the flow of resources, goods, services, and money between sectors in an economy.

Net Taxes

Net taxes refer to taxes paid to the government minus transfer payments received from the government, showing the actual tax burden on individuals or businesses.

Transfer Payments

Payments made by the government to individuals without the expectation of a direct economic return, typically to assist with income support.