Consider the Allocation of a Nation's Resources Between Additional Public-Sector

question 33

Multiple Choice

Consider the allocation of a nation's resources between additional public-sector spending versus additional private spending.John Kenneth Galbraith argued that

• A)the value of the marginal dollar spent by government is less than the value of that dollar left in the hands of households or firms.
• B)public sector spending is always subject to corruption and is therefore not as valuable as private spending.
• C)the marginal utility of an additional dollar's worth of spending on public goods is higher than an additional dollar's worth of spending on private goods.
• D)compared to public spending,private spending leads to more sustained long-run economic growth.
• E)compared to private spending,public spending leads to more sustained long-run economic growth.

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