The Term Public Opinion Itself Refers to

question 41

Multiple Choice

The term public opinion itself refers to

• A)an aggregate opinion of the public, which is properly treated as a single entity.
• B)an aggregate opinion of the public, which should not be treated as a single entity.
• C)individual expressions of preferences, which should be treated as rational.
• D)individual expressions of preferences, which cannot be assumed to be rational.
• E)individual expressions of preferences, which should be treated as a rational collective.

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Definitions:

Subsidy

A financial grant or support extended by the government to individuals, businesses, or industries to encourage certain activities or lower their costs.

Public Choice Theory

An economic theory that studies how public decisions and policies are made, applying methodologies and understanding from economics to political science.

Self-interest

A principle in economics that suggests individuals usually act in a way that is most beneficial to themselves, based on their preferences and objectives.

Efficient Level Output

The level of production where average total costs are minimized and marginal costs equal marginal revenues.