Author Question: What is public choice theory? What will be an ideal response?[br][br][b][color=green]Question ... (Read 52 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
What is public choice theory?
 
  What will be an ideal response?

Question 2

If opening an economy up to trade always benefits both trading partners, why is free trade controversial?
 
  What will be an ideal response?



janeli1

  • Sr. Member
  • ****
  • Posts: 330
Answer to Question 1

Public choice theory is an economic theory that the public officials who set economic policies and regulate the players act in their own self-interest, just as firms do.

Answer to Question 2

Free trade is controversial because it affects various groups in the economy in different ways. While both trading partners on the whole will gain from free trade, some individuals may lose. For example, opening up the economy to trade may allow consumers to buy goods at lower prices but could affect the wages and jobs of domestic workers.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

For a complete list of videos, visit our video library