A modified version of elitist theory holds that_______________?
Correct answer: D. all of the above
- A. elite members identify with middle-class values
- B. the masses can on occasion influence the elite
- C. elites vary in their degree of openness
- D. all of the above
Explanation
The modified elitist view allows some interaction between elites and the wider population: elites may hold middle-class values, masses may occasionally influence elites, and elites differ in openness. Therefore all three statements apply.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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