When the public perceives that the government has failed the state may be said to be undergoing________________?
Correct answer: B. a crisis of legitimacy
- A. revolution
- B. a crisis of legitimacy
- C. a crisis of confidence
- D. involution
Explanation
A crisis of legitimacy arises when people no longer accept the government’s right or competence to rule. A crisis of confidence is a related but less specific loss of trust, whereas the wording points to legitimacy.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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