Exam 5: B: Governments Role and Government Failure

A special-interest issue is one whose passage yields:

The information contained in the table illustrates:

The Bank of Canada, U.S.Federal Reserve, the Bank of Japan, the Bank of England, and the European Central Bank are all in charge of what for the countries they represent?

The paradox of voting is that under majority voting rules the median voter decides the election outcome.

Public choice theorists point out that the political process:

Answer the question on the basis of this table showing the marginal benefit that a particular public project will provide to each of the three members of a community.No vote trading is allowed. If the tax cost of this proposed project is $600 per person, a majority vote will:

Which of the following impacts would economists expect to result from chronic budget deficits?

Government loan guarantees tend to have the effect of:

Answer the question on the basis of this table showing the marginal benefit a particular public project will provide to each of the three members of a community.No vote trading is allowed. If the tax cost of this proposed project is $600 per person, a majority vote will:

Suppose that Katie and Kelly each expects to receive $500 worth of marginal benefits from a proposed new recreation center, whereas Kerry expects to receive only $100 worth.If the proposed tax levied on each for the center would be $400, a majority vote will:

In a sporting goods store, you can buy the equipment you want and not buy the rest.In an election, you "buy" the entire range of the candidate's positions, including some you may not agree with.This difference:

The idea of government failure includes all of the following except:

The Ontario Securities Commission supervision of Bay Street financial firms is a possible example of regulatory capture.

The government's ability to coerce:

Weak government enforcement of contracts and laws tends to:

In a market economy, the government's power to coerce can:

Government guarantees that socialize losses and privatize gains tend to encourage risky and imprudent investment.

The appeal to government for special benefits at taxpayers' or someone else's expense is called:

Refer to the table.The inconsistency illustrated by the table is that, while a majority of voters prefer the:

Individual accountability within the government bureaucracy: