According to the Equimarginal Principle,the Efficient Level of Government Expenditures

question 57

True/False

According to the equimarginal principle,the efficient level of government expenditures occurs when the benefit of the last dollar spent for each purchase is greater than the last dollar of cost.

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Definitions:

Cognitive Processing Theory

A theory focusing on the thought processes that underlie learning, suggesting that individuals actively process information and this processing influences learning.

Operant Conditioning

A learning method that uses rewards and punishments to influence behavior.

Social Learning Theory

A theory that suggests individuals learn behaviors, norms, and values by observing and imitating others, especially those in socially influential positions.

Fixed Ratio

A reward system where a response is reinforced only after a specified number of correct responses.