Answer:
It can be very difficult for citizens to start private businesses. Citizens must pay for most basic necessities by themselves. There is no guarantee of steady employment for many citizens. Citizens may pay higher taxes than in other economic systems.
Explanation:
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Answer:
Rational behaviour of the participants of the political process.
Explanation:
Public choice theory is the theory used in economic as well as political domain as a process of decision-making. It administers the use of economics-related knowledge in the field of politics and thus, focuses on solving various political problems with the help of economic tools. While making decision-related to political issues according to the public choice theory, it is important to have adequate economics and political knowledge, and the decision should not be based on any rational behavior.
Answer:
N. Most countries have had little fluctuation around their average growth rates during the past 120 years.
Explanation:
" Both measures reveal the same thing: between 1960 and the late-1990s, there was a widening of the world income distribution, at least when each country is a unit of observation. In the last decade or so, this pattern seems to have stabilized"
Reference: Jones, C. I. (2016). The facts of economic growth. In Handbook of macroeconomics (Vol. 2, pp. 3-69). Elsevier. p. 37