Which of the Following Statements Is a Public Choice Economist

question 41

Multiple Choice

Which of the following statements is a public choice economist most likely to agree with?

• A) People who work for the federal government are naturally lazy,whereas people who work for private firms are naturally hard working.
• B) Good government comes from good people,bad government comes from bad people.
• C) Change the institutional arrangements,and you will change behavior.
• D) Bad people naturally gravitate toward a career in politics.
• E) Good people naturally gravitate toward a career in politics.

Understand the calculation and interpretation of GDP, including what is excluded or included in its calculation.

Recognize the impact of various activities and expenditures on GDP.

Understand the concept of value added in the context of GDP.

Distinguish between expenditures included and excluded in the consumption component of GDP.

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Definitions:

Electrical Tape

A type of pressure-sensitive tape used to insulate electrical wires and other materials that conduct electricity.

Fourth Step

An undefined term which could refer to a specific phase or action within a process, depending on the context in which it’s used.

Wrapping Instruments

The process of enclosing medical instruments in protective covers before sterilization to maintain their sterility until use.

Sterilization

A process designed to eliminate all forms of life, including microbial spores, by applying methods such as heat, chemicals, or radiation.