Exam 18: Public Economy

The government has decided to impose a pollution tax on coal burning power plants in an attempt to reduce harmful emissions. The new tax will cost the 20 largest industrial carbon emitters $6 million annually. In terms of reduced emissions, the annual tax benefits are valued at $20 per person. 100 million people are directly affected by emissions from these plants. The total annual cost of this tax is _______ , while the total annual benefit to society is _______.

The $5.8 billion spent on political campaigns in the United States in 2012 represents roughly _______ Of the nation's overall economy.

Which of the following is not one of the proposals that have been offered to encourage greater voter turnout?

At the time the United States was formed, mandatory voting was required in each of the following states with one exception. Which one is it?

In presidential elections over the last few decades, about _______ of voting-age citizens actually turned out to cast their votes.

Briefly explain why the principle that the majority of voters should decide an election outcome may not always make logical sense.

Which of the following characteristics differentiates the private economy from government?

U.S. voting statistics show that elderly citizens donate both money and time to political campaigns. In the 2012 presidential election, _______ of those over age 65 voted, while just _______ Of the remainder of the voting age population cast a ballot.

List three proposals that have been offered to encourage greater voter turnout in the United States.

Pork-barrel spending can be thought of as another case where democracy is challenged by _______ And _______.

Economists readily admit that in settings that involve a monopoly or negative externalities, a potential role exists for _______.

List the three main reasons why people in the U.S. don't vote.

Since the 1980s, national elections in Germany, Spain and France have all recorded _______ Than was recorded for presidential elections in the United States.

Research on voting behavior in the U.S. has shown that, on average, people who are more _______ Tend to _______.

Which of the following is a reason the Supreme Court was asked to rule on various provisions and interpretations of the Bipartisan Campaign Reform Act of 2002?

In the United States, which of the following would be most likely to participate in an election by informing themselves and casting their vote?

A problem may arise when politicians are elected by the votes of 60% or less of the population, because these politicians may not enact

When the U.S. Congress begins to draft laws and regulations that attempt to reduce the harmful effects of environmental pollution, industry lobbyists will

The absence of which of the following best explains why government agencies are slower to correct mistakes than private firms.

The government wants to enact tax legislation aimed at reducing increasing discharge levels of toxins into municipal waste water systems. The annual cost of the tax to the 100 worst industrial polluters will be $5 million each. The annual benefits of the tax, in terms of reduced toxin levels in water systems, are valued at $25 per person. There are 300 million people directly affected by the 100 worst industrial polluters. The total cost of this tax is _______ while the total benefit to society is _______.