Question 1

In 2012,the U.S.federal government legislation authorized:

Accepted Answer

A)   152 earmarks totaling $3.3 trillion.
B)   2,300 earmarks totaling $8.7 billion.
C)   10,160 earmarks totaling $19.6 billion.
D)   11,700 earmarks totaling $16.9 billion.E) None of the above
F) A) and C)

Question 2

(Consider This) The collective action problem refers to:

Accepted Answer

A)   logrolling behavior that results in inefficient policies.
B)   the tendency for legislatures to enact policies that are economically harmful.
C)   the lack of political power of small groups of people.
D)   difficulty in organizing and motivating large groups to achieve desired outcomes.E) A) and C)
F) All of the above

Question 3

Economists call the pursuit of a transfer of wealth through government at someone else's expense:

Accepted Answer

A)   the paradox of voting.
B)   adverse selection.
C)   rent-seeking behavior.
D)   the benefits-received principle.E) B) and C)
F) A) and B)

Question 4

In what way,if any,does the invisible hand affect government resource allocation?

Accepted Answer

A)   It enhances government efficiency by promoting competition for resources within government.
B)   It does not help resource allocation,as there are no competitive forces within government that automatically direct resources to their best uses.
C)   It rewards government bureaucrats who are most efficient at implementing public policies.
D)   It reduces government efficiency by sending market signals that interfere with government decision making.E) B) and C)
F) None of the above

Question 5

The invisible hand guides government's economic activity just as it does with private economic activity.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Exam 5: Governments Role and Government Failure

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

Correct Answer
verified

In 2012,the U.S.federal government legislation authorized:

Correct Answer
verified

The invisible hand guides government's economic activity just as it does with private economic activity.

Correct Answer
verified

Economists call the pursuit of a transfer of wealth through government at someone else's expense:

Correct Answer
verified

In what way,if any,does the invisible hand affect government resource allocation?

Correct Answer
verified

(Consider This) The collective action problem refers to:

Correct Answer
verified

Exam 5: Governments Role and Government Failure

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

Correct AnswerverifiedShow Answer

In 2012,the U.S.federal government legislation authorized:

Correct AnswerverifiedShow Answer

The invisible hand guides government's economic activity just as it does with private economic activity.

Correct AnswerverifiedShow Answer

Economists call the pursuit of a transfer of wealth through government at someone else's expense:

Correct AnswerverifiedShow Answer

In what way,if any,does the invisible hand affect government resource allocation?

Correct AnswerverifiedShow Answer

(Consider This) The collective action problem refers to:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified