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:

Exchange Rate

The worth of one currency when converted into another.

Gold

A precious metal used as an investment, a currency standard, and jewelry due to its perceived value and physical properties.

Currency

The system of money in general use in a particular country or economic system for buying and selling goods and services.

Current Account

A component of a country's balance of payments that measures the trade balance plus net income and direct payments between countries.