*The political process sometimes leads to economic inef- ciency because we elect the wrong people to political...

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*“The political process sometimes leads to economic inef-

ciency because we elect the wrong people to political ofce.

If the right people were elected, a democracy governed by majority rule would allocate resources efciently.” Evaluate this statement.

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Microeconomics Private And Public Choice

ISBN: 9781305506893

16th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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