Which One of the Following Economists Has Played a Central

question 45

Multiple Choice

Which one of the following economists has played a central role in the development of the "economics of collective decision making," better known as public choice analysis?

• A) Alfred Marshall
• B) John Maynard Keynes
• C) James Buchanan
• D) Milton Friedman

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Definitions:

Payments

The act of transferring money, or its equivalent, from one party to another as a settlement of an obligation, such as bills, invoices, or loans.

Compounded Monthly

This term refers to the process of earning interest on both the initial principal and the accumulated interest from previous periods, calculated on a monthly basis.

Invest

To assign funds with the anticipation of obtaining future gains, like earnings or financial returns.

Saves

In finance, the amount of money that is set aside from income, typically in a savings account or other forms of secure investment.