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MACROWSNotes4.pdf - 13 Award 1.00 point Government ocials...

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13. Award: 1.00 point 14. Award: 1.00 point Government officials tend to make better economic decisions than private individuals because of the wealth of information at their disposal. better economic decisions than private individuals because of the efficient processes and flexibility built into the government bureaucracy. inefficient choices because they lack the information necessary to accurately weigh marginal benefits and marginal costs. inefficient choices because the invisible hand directs them away from the resource allocation where marginal benefits equal marginal costs. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-01 Describe how governments power to coerce can be economically beneficial and list some of the difficulties associated with managing and directing the government. As it relates to corporations, the principal-agent problem is that the goals of the corporate managers (the principals) may not match the goals of the corporate owners (the agents).
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