Exam 18: Public Economy

Legislators who focus on local spending projects for their own district typically show a lack of sufficient concern for

In some instances where voters have more than two choices in a democratic election, the principle that the _______ will decide the outcome may no longer make logical sense.

In the U.S. political arena, _______ may tend to emphasize the virtues of markets and the limitations of government, while _______ may tend to emphasize the shortcomings of markets and the need for government programs.

Identify and briefly discuss what research has shown regarding the voting behavior of people living in a democracy to vote.

The theory of _______ holds that people won't bother incurring the costs of becoming informed and voting, because they know that their vote _______.

U.S. presidential elections over the last few decades have typically involved _______ of voting-age citizens actually participating by _______ to vote.

In a 1948 novel titled "Walden II", one of the characters states: "The chance that one man's vote will decide the issue in a national election...is less than the chance that he will be killed on his way to the polls." This statement addresses

Briefly discuss the controversial and noncontroversial portions of the 2002 Bipartisan Campaign Reform Act that Congress passed and President George W. Bush signed into law.

Which of the following is an oversimplified term that is sometimes used to describe the meaning of democracy?

Australian law may require people to vote, but mandatory voting laws are unlikely to mean that each vote cast in an election _______.

Identify where political actions in the US are more likely to focus and provide an example.

Political institutions play a role in allocating the _______, and economists have played an active role along with other social scientists in analyzing _______.

Briefly explain what is meant by the term "pork-barrelling."

Briefly describe the theory of rational ignorance.

Provide one example to how a democratic political system probably has a bias toward those members of the society who are identifiable.

In 2009, total federal and state government spending was about $5.1 trillion and the cost of choosing politicians to determine how this money would be spent amounted to roughly _______ Of government spending.

Why are politicians more likely to focus their political actions on individuals with higher incomes and higher levels of education?

The government is imposing an industrial pollution tax in an attempt to reduce carbon emissions. The cost of the tax to five major companies in the oil refining industry will be $50 million annually. In terms of reduced emissions, the annual benefits of the tax are valued at $10 per person. There are 125 million people directly affected by emissions from oil refineries owned by these companies. The total annual cost of this tax is _______ while the total annual benefit to society is _______.

The political systems in most Latin American nations differ from the political system in the United States because most Latin American nations

The problem of special interests in politics can be related to an economic policy problem called _______.