The Existence of the Cost-Benefit Principle Stems from

question 134

Multiple Choice

The existence of the cost-benefit principle stems from

• A) the limited nature of wants.
• B) the trade-offs the scarcity problem indicates must be made.
• C) the necessity of government intervention.
• D) opportunity costs.
• E) the unlimited nature of resources.

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Definitions:

Jeffersonians

Followers or adherents of the political principles of Thomas Jefferson, emphasizing agrarianism, strict interpretation of the Constitution, and states' rights.

Whigs

Whigs were a political party active in the mid-19th century in the United States, advocating for federal government involvement in promoting economic growth through infrastructure and banking.

Divided Government

A situation in which the presidency is controlled by one political party while the opposite party controls one or both houses of Congress, leading to potential policy-making gridlock.

Presidency

The office and function of the President, which is the head of state and government in a republic, particularly in the United States.