Public Choice Analysis Indicates That

question 291

Multiple Choice

Public choice analysis indicates that

• A) because government action provides public goods, it always increases the wealth of the citizenry.
• B) unconstrained democratic governments often enact special-interest programs that waste resources and impair the standard of living.
• C) constitutional rules limiting public-sector activity generally lower the economic efficiency of the overall economy.
• D) Politicians and voters are better able to judge the public interest than their own private interest.

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Definitions:

Service Level

A measurement of the performance of a system, often used in supply chains to quantify the percentage of customer demands met without delay.

Overstocking Cost

Expenses incurred when a company holds more inventory than it can sell, including storage, insurance, and depreciation.

Quick Response

A strategy aimed at improving the efficiency of supply chains by rapidly reacting to changes in demand.

Advantages

The benefits or favorable conditions that give an entity a superior position or competitive edge over others in its field.