Exam 20: Political Economy and Public Choice

The diffusion of costs and concentration of benefits: I. leads to rational ignorance on the part of voters. II. is the formula to which the sugar quota owes its existence. III. is a formula for reelection to political office.

(Multiple Choice)

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Question 301

Let's check on whether you are rationally ignorant. Which of the following four items is the biggest in terms of government expenditure?

(Multiple Choice)

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Question 302

Large special interest groups tend to favor less-efficient policies because they make up a large fraction of society.

(True/False)

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Question 303

Which of the following statements is TRUE?

(Multiple Choice)

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Question 304

When government makes it possible to push the costs of a good onto other people we get too much of the good.

(True/False)

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Question 305

According to public choice theory, a more democratic country:

(Multiple Choice)

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Question 306

Showing 301 - 306 of 306

The diffusion of costs and concentration of benefits: I. leads to rational ignorance on the part of voters. II. is the formula to which the sugar quota owes its existence. III. is a formula for reelection to political office.

Let's check on whether you are rationally ignorant. Which of the following four items is the biggest in terms of government expenditure?

Large special interest groups tend to favor less-efficient policies because they make up a large fraction of society.

Which of the following statements is TRUE?

When government makes it possible to push the costs of a good onto other people we get too much of the good.

According to public choice theory, a more democratic country:

The Big Ideas

The Power of Trade and Comparative

Supply and Demand

Equilibrium

Elasticity and Its Applications

Taxes and Subsidies

The Price System

Price Ceilings and Floors

International Trade

Externalities- When the Price Is Not Right

Costs and Profit Maximization Under Competition

Competition and the Invisible Hand

Monopoly

Price Discrimination

Oligopoly and Game Theory

Competing for Monopoly

Monopolistic Competition and Advertising

Labor Markets

Public Goods and the Tragedy of the Commons

Economics, Ethics, and Public Policy

Managing Incentives

Stock Markets and Personal Finance

Price Discrimination

Consumer Choice

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