The political process sometimes leads to economic inefficiency because we elect the wrong people to political office.
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The political process sometimes leads to economic inefficiency because we elect the wrong people to political office. If the right people were elected, a democracy governed by majority rule would allocate resources efficiently.” Evaluate this statement.
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The statement suggests that economic inefficiency in a democracy ...View the full answer
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Related Book For
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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