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Macroeconomic

Government Failure

QuestionAnswer
Wasteful Spending Government, Business, Individual
Wrong mix of good & services spending money in the wrong area
How does the gov't decide? benefit/cost analysis, put the dollar on benefit & cost 1. ballot box 2. public choice theory 3. controlling aspects of economy not needing control
Ballot box Indirect - elect representative who decide. Direct - millage election (low voter turn out, close election)
Public Choice Theory person making decision act in their own self-interest -politician - spending money in my district -buredacracts
Controlling aspects of economy not needing control force behavior: helmet laws, zoning law, pay day load (loan without credit)
Created by: 547250412094000
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