Most economics textbooks do not mention kickbacks since they assume: Consumers spend their own money purchasing what they consume. Consumers are rational and respond to incentives. Property rights are well defined. Government officials are altruistic and do their best to help voters.

Most economics textbooks do not mention kickbacks since they assume: Consumers spend their own money purchasing what they consume. Consumers are rational and respond to incentives. Property rights are well defined. Government officials are altruistic and do their best to help voters.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Most economics textbooks do not mention kickbacks since they assume:

- Consumers spend their own money purchasing what they consume.
- Consumers are rational and respond to incentives.
- Property rights are well defined.
- Government officials are altruistic and do their best to help voters.

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