The Approach to Government That Assumes That the Goal of Government

question 91

Multiple Choice

The approach to government that assumes that the goal of government is to maximize welfare by seeking an efficient allocation of resources is called:

• A) public finance theory.
• B) public choice theory.
• C) public interest theory.
• D) welfare theory.

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Definitions:

Coverage Assertion

A claim or statement regarding the extent of protection provided by an insurance policy.

Liability Insurance

Insurance that protects a business from tort liability to third parties.

Contractors' Insurance

A type of insurance policy specifically designed to protect contractors against liabilities for property damage, injuries, and other risks encountered during construction projects.

Product Liability

The area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.