Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 6, Problem 4CQ
To determine
Explain the political process that leads to economic inefficiency
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To what extent should government influence the economy of a democracy such as the United States?
Generally speaking, which type of government is associated with greater economic freedom?
A) socialism
B) theocracy
C) totalitarianism
D) democracy
E) dictatorial
How democracy effect economy of any country? Explain with logical examples.
Chapter 6 Solutions
Economics: Private and Public Choice (MindTap Course List)
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- Voters in California are able to vote on propositions to create their own laws and through this process, they can amend or repeal statutes (laws) of the California Constitution. This is a form of: O. Direct Democracy O. Representative Democracy O. Totalitarianism O. Executive Orderarrow_forwardImagine that the leaders of a poor nation with a centrally planned economy become willing to try a different economic system, and hire an economist from a rich, market economy nation to advise them. The economist recommends a switch to a market economy. What will the economist suggest the leaders order their citizens to do?arrow_forwardDon't use Ai.arrow_forward
- what is the appropriate balance between government and freedom in the American democracy? Do you think government should be more active, providing assistance to achieve a common good for all citizens; or, should government be more limited, involved only to the extent that it protects individual rights and liberties?" Explain your answer.arrow_forwardThrough economic reasoning, explain the interrelationship with markets and government.arrow_forwardExplain what is the benefit of a free government.arrow_forward
- In a market system, provide an example for when government can enhance or harm any of the processes involved in terms of what should be produced, how it should be produced, and for whom.arrow_forwardWhich of the following is the type of government where most power belongs to states or provinces and the national government is weak? A. An association B. A confederation C. A league D. An Alliancearrow_forwardCapitalism is a market-driven economy, characterized by government ownership of resources, and profits that are shared equally among the populace. True or false?arrow_forward
- As the Great Depression began in 1929, and millions of Americans found themselves in a terrible economic position, President Herbert Hoover was reluctant to involve the government in directly helping people. This decision helped lead to his loss in the presidential election of 1932. Put yourself in Hoover’s shoes—what reasons would he have for being opposed to large-scale government involvement in the economic lives of Americans? What reasons could be given for the government getting involved?arrow_forwardThe type of nondemocratic rule where democratic institutions that rest on the rule of law are weakly institutionalized and poorly respected, and where there is rule by an elected leadership through procedures of questionable democratic legitimacy is called... Group of answer choices Illiberal regimes Theocracy Sultanistic authoritarianismarrow_forwardWhy are some people drawn to government while other people don't want to have anything to do with the government?arrow_forward
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