According to Buchanan and Wagner,why Is There a Political Bias

question 12

Multiple Choice

According to Buchanan and Wagner,why is there a political bias toward expansionary fiscal policy rather than contractionary fiscal policy?

• A) In a democracy,expansionary fiscal policy prescriptions are more politically popular than are the policy prescriptions associated with contractionary fiscal policy.
• B) In a democracy,contractionary fiscal policy prescriptions are more policitally popular than are the policy prescriptions associated with expansionary fiscal policy.
• C) They assert that empirical evidence has shown that Keynesian fiscal policy prescriptions have been successful at closing recessionary gaps,but not inflationary gaps.
• D) ​They assert that empirical evidence has shown that Keynesian fiscal policy prescriptions have been successful at closing inflationary gaps,but not recessioinary gaps.
• E) ​none of the above

Comprehend the unique attributes of various forms of business entities.

Understand the financial transaction impacts on the accounting equation.

Identify the types of financial statements and their characteristics.

Analyze transactions and their effects on business finances.

---

Definitions:

Duplication of Effort

A situation where multiple people or groups are unknowingly working on the same task or problem, leading to a waste of resources.

Conformity

The act of changing one's behavior to match the responses or standards of others, often within a group context.

Burger's Replication

A research study that replicated Milgram's obedience experiment to examine the willingness of participants to obey authority.

Authority Figures

Individuals or entities that hold power or control in a particular context, often looked up to or obeyed by others.