Benefit-cost analysis has been criticized as a means of allowing public agencies to justify ever-larger budgets.

Question

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Critics argue that benefit-cost analysis can be manipulated to make projects appear more cost-effective than they actually are, leading public agencies to demand larger budgets to implement these projects. Additionally, benefit-cost analysis may not account for certain externalities or intangible benefits and costs, which can result in an incomplete evaluation of a project's overall impact.

Benefit-Cost Analysis Has Been Criticized as a Means of Allowing