Some Individuals Seek to Use Government Action to Make Themselves

question 188

Multiple Choice

Some individuals seek to use government action to make themselves better off at the expense of others.The actions of these individuals

• A)are examples of fraud; but these individuals usually avoid prosecution because of logrolling and rational ignorance.
• B)are examples of rent seeking.
• C)offer proof that Adam Smith's "invisible hand" is not valid.
• D)are evidence of the voting paradox.

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Definitions:

Repeat Purchases

Instances where customers buy the same product or service from a business more than once.

Supplier Performance Index (SPI)

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Preferred Supplier

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Activity Costs

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