Exam 32: Public Choice and Special-Interest-Group Politics
Exam 1: What Economics Is About168 Questions
Exam 2: Production Possibilities Frontier Framework152 Questions
Exam 3: Supply and Demand: Theory227 Questions
Exam 4: Prices: Free, Controlled, and Relative107 Questions
Exam 5: Supply, Demand, and Price: Applications83 Questions
Exam 6: Macroeconomic Measurements: Prices and Unemployment129 Questions
Exam 7: Macroeconomic Measurements: GDP and Real GDP138 Questions
Exam 8: Aggregate Demand and Aggregate Supply208 Questions
Exam 9: Classical Macroeconomics and the Self Regulating Economy167 Questions
Exam 10: Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy198 Questions
Exam 11: Fiscal Policy and the Federal Budget164 Questions
Exam 12: Money, Banking,and the Financial System124 Questions
Exam 13: The Federal Reserve System184 Questions
Exam 14: Money and the Economy125 Questions
Exam 15: Monetary Policy176 Questions
Exam 16: Expectations Theory and the Economy146 Questions
Exam 17: Economic Growth: Resources, Technology, Ideas, and Institutions82 Questions
Exam 18: The Financial Crisis of 2007-200970 Questions
Exam 19: Debates in Macroeconomics Over the Role and Effects of Government69 Questions
Exam 20: Elasticity198 Questions
Exam 21: Consumer Choice: Maximizing Utility and Behavioral Economics176 Questions
Exam 22: Production and Costs247 Questions
Exam 23: Perfect Competition191 Questions
Exam 24: Monopoly191 Questions
Exam 25: Monopolistic Competition, Oligopoly, and Game Theory167 Questions
Exam 26: Government and Product Markets: Antitrust and Regulation165 Questions
Exam 27: Factor Markets: With Emphasis on the Labor Market181 Questions
Exam 28: Wages,Unions,and Labor134 Questions
Exam 29: The Distribution of Income and Poverty93 Questions
Exam 30: Interest, Rent, and Profit199 Questions
Exam 31: Market Failure: Externalities, Public Goods, and Asymmetric Information185 Questions
Exam 32: Public Choice and Special-Interest-Group Politics131 Questions
Exam 33: Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions60 Questions
Exam 34: International Trade152 Questions
Exam 35: International Finance119 Questions
Exam 36: Globalization and International Impacts on the Economy136 Questions
Exam 37: The Economic Case For and Against Government: Five Topics Considered82 Questions
Exam 38: Stocks, Bonds, Futures, and Options108 Questions
Exam 39: Agriculture: Problems, Policies, and Unintended Effects149 Questions
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One implication of the median voter model is that candidates running for political office take polls because
Free
(Multiple Choice)
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Correct Answer:
B
Congressman A promises to vote for a bill that Congressmen B and C are sponsoring,and in return both B and C promise to vote for a future bill that A is sponsoring.This practice is called
Free
(Multiple Choice)
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Correct Answer:
D
Exhibit 32-1
-Refer to Exhibit 32-1. The exhibit shows the breakdown of benefits and costs for a four-person town considering the purchase of an additional $1,200 worth of books for the public library. If simple majority voting determines the outcome,the books will
Free
(Multiple Choice)
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Correct Answer:
C
Under certain circumstances,a congressional district may be a special interest group.
(True/False)
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Ceteris paribus,economics predicts that voter turnout will be higher
(Multiple Choice)
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Special interest groups often engage in rent seeking,which is a socially wasteful activity.
(True/False)
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Suppose that a federal election is coming soon and the government has been running persistent large budget deficits. Constitutional economists would most likely urge ___________________ in order to eliminate future budget deficits.
(Multiple Choice)
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In his article Straight Talk About Economic Literacy,economist _______________________ said,"Citizens can vote even if they have no idea what they are doing. If enough voters fit that description,democratic governments are bound to make foolish decisions."
(Multiple Choice)
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Exhibit 32-3
-Refer to Exhibit 32-3.The exhibit shows the breakdown of benefits and costs for a five-person community considering whether to purchase a $5,000 statue of Adam Smith to put in the center of the public square.If simple majority voting determines the outcome,the statue _______________ be purchased,and the total costs are ______________ the total benefits of the statue.
(Multiple Choice)
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What is the median voter model? Describe four different ways in which this theory is predicted to impact the behavior of political candidates.
(Essay)
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According to public choice theorists,people in the market sector and people in the public sector have __________,and (but)sometimes act differently because of different __________ arrangements in the two sectors.
(Multiple Choice)
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According to public choice theory,low voter turnouts are the result of voters
(Multiple Choice)
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Exhibit 32-1
-Refer to Exhibit 32-1.The exhibit shows the breakdown of benefits and costs for a four-person town of a proposed $1,200 addition in books to the public library.How will each of the four persons,A-D,vote? (The first answer in the list is how person A would vote,the second is how person B would vote,and so on,so that "for" indicates that the individual would be in favor of having the additional books purchased by the library.)
(Multiple Choice)
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Logrolling is the exchange of votes to gain support for legislation.
(True/False)
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Exhibit 32-2
-Refer to Exhibit 32-2-(c).Two candidates are competing for an electorate consisting of 11 voters labeled A-K shown positioned with respect to their ideological stands on issues.The median voter theory would predict that candidates will assume the ideological position(s)
(Multiple Choice)
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The model predicting victory in a two-person race for the candidate closer to occupying the center of the voter distribution is built on the assumption that
(Multiple Choice)
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