The Theory That Individuals in Government Seek to Maximize _______

question 57

Multiple Choice

The theory that individuals in government seek to maximize _______ is called ________ theory.

• A) their own utility; public finance
• B) the public welfare; public choice
• C) their own utility; public choice
• D) the public welfare; private interest

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Definitions:

Zero-Sum Game

A situation in economic theory where one participant's gains result entirely from another participant's equivalent losses.

Exploitation

The act of using someone or something unfairly for one's own advantage, often without proper compensation.

Barter

The direct exchange of goods or services for other goods or services without the use of money.

Benevolence

The quality of being well-meaning and kindly; a desire to help others.