One Result of the Public Choice Model Is That Most

question 197

Multiple Choice

One result of the public choice model is that most economists believe that

• A)when market failure occurs, government intervention will always lead to a more efficient outcome.
• B)government intervention will always result in a reduction in economic efficiency in regulated markets.
• C)policymakers may have incentives to intervene in the economy in ways that do not promote economic efficiency.
• D)the voting paradox will prevent voters from selecting the best person for public office.

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Definitions:

Jaywalking

The act of crossing a street illegally or recklessly, not using designated crosswalks or ignoring pedestrian signals.

Folkway

Informal norms or everyday habits that shape routine social behaviors, not strictly enforced but traditionally followed within a society.

Culture Shock

The feeling of disorientation experienced by someone when they are suddenly subjected to an unfamiliar culture, way of life, or set of attitudes.

Oberg

Refers to Kalervo Oberg, an anthropologist known for introducing the concept of "culture shock" and studying the adjustment processes of cross-cultural transitions.