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snowicefox17 snowicefox17
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5 years ago

Question 1.

A key assumption of the public choice model is that government policymakers will pursue their own self-interests. Economists assume that consumers and firms pursue their own self-interests when they interact in competitive markets and this interaction results in efficient economic outcomes. Does the pursuit of self-interest by policymakers result in efficient economic outcomes?

Question 2.

Former Alabama Governor George Wallace ran for president several times, once as a third-party candidate in 1968. Wallace claimed there was "not a dime's worth of difference" between the Democratic and Republican parties during one of his campaigns. How does Wallace's comment relate to the median voter theorem?
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Microeconomics

Microeconomics


Edition: 7th
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WooWoo
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snowicefox17 Author
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5 years ago
You make an excellent tutor!
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