The pivotal institution of government_________________?
Correct answer: D. exists only theoretically or in a rudimentary form on the international level
- A. exists in every nation
- B. is lacking in Third-World nations
- C. is represented by the U.N on a global level
- D. exists only theoretically or in a rudimentary form on the international level
Explanation
At the international level, there is no world government with authority comparable to a national government. International institutions such as the U.N. exercise limited, delegated powers, so government exists there only in a rudimentary form.
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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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