The field of economics that analyzes government decision making, politics, and elections is called:
public choice theory.
Public choice economists:
use the tools of economics to analyze decision making, politics, and elections in the public sector.
Which one of the following topics would be of most interest to a public choice economist?
An economic analysis of the relationship between proposed legislation affecting major employers in each state and the voting patterns of Senators and representatives in Congress on that legislation would fit within the subcategory of economics called:
public choice theory.
"Government failure" is a prominent topic in:
public choice theory.
Public choice theory focuses on the economics of:
government decision making, politics, and elections.
The political technique called logrolling:
involves trading votes to secure favorable outcomes that otherwise would be rejected.
Senator A agrees to vote for Senator K's state project in exchange for Senator K voting for Senator A's state project. This is an example of:
Suppose 3 roommates cannot agree on the size of a pizza to order. Domino argues for a medium pizza, Godfather contends a large pizza will be needed, and Little Caesar wants a super-large pizza. Assuming no paradox of voting, majority voting will result in a decision to order:
a large pizza.
"Vote for my special local project and I will vote for yours." This political technique:
often accompanies pork-barrel politics.
Factors that impede the attainment of economic efficiency in the public sector are called:
According to public choice theorists, the private sector is more efficient than the public sector mainly because:
the private sector has a clear test of performance: profit and loss.
The idea of government failure includes all of the following except:
extensive positive externalities from public and quasi-public goods.
Suppose American winemakers convince the Federal government to issue a directive to serve only domestically produced wine at government functions. This would be an example of:
Public choice theorists contend that:
public bureaucracies are inherently less efficient than private enterprises.
The pursuit through government of a transfer of wealth at someone else's expense refers to:
Economists call the pursuit of a transfer of wealth through government at someone else's expense:
Public choice theorists hold that politicians will:
favor programs entailing immediate and clear-cut benefits and vaguely defined or deferred costs.
Public choice theorists contend public bureaucracies are inefficient primarily because:
of the absence of competitive market pressures.
A special-interest issue is one whose passage yields:
large economic gains to a small number of people and small economic losses to a large number of people.
Public choice theorists point out that the political process:
differs from the marketplace in that voters and congressional representatives often face limited and bundled choices
When congressional representatives vote on an appropriations bill, they must vote yea or nay, taking the bad with the good. This statement best reflects the:
idea of limited and bundled choice.
"Pork-barrel" legislation that contains funding for hundreds of separate special products scattered throughout numerous states often reflects:
Suppose lawyers seek legislation to limit the use of computer software that enables people to use their personal computers to self-prepare their own wills, trusts, and other legal documents. This is an example of:
In a sporting goods store, you can buy the equipment you want and forgo the rest. But in an election you "buy" the entire range of the candidate's positions, including some you may not agree with. This difference:
reflects limited and bundled choices in the public sector.
Which of the lines in the above diagram represent(s) a progressive tax?
both A and B.
Which of the lines in the above diagram represent(s) a proportional tax?
Which of the lines in the above diagram represent(s) a regressive tax?
In which of the above market situations will the largest portion of an excise tax of a specified amount per unit of output be borne by buyers?
Refer to the above diagram in which S is the before-tax supply curve and St is the supply curve after an excise tax is imposed. The total amount of the tax paid by consumers is shown by area(s):
A + B.
Refer to the above diagram in which S is the before-tax supply curve and St is the supply curve after an excise tax is imposed. The total amount of the tax paid by producers is shown by area(s):
Refer to the above diagram in which S is the before-tax supply curve and St is the supply curve after an excise tax is imposed. The efficiency loss of the tax is shown by area(s):
E + F.
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