macroeconomics ch 5

Which of the following is a key difference between the economic activities of government and those of private firms?

The government's ability to coerce can enhance economic efficiency by:

How does government's power to coerce behavior tend to reduce private-sector risk

Which of the following is a source of government failure?

Individual accountability within the government bureaucracy:

Government officials tend to make:

As it relates to corporations, the principal-agent problem is that

In representative democracy, voters are ____________ and politicians are ______________.

As it relates to the political process, the principal-agent problem results from the

."Vote for my special local project and I will vote for yours." This political technique:

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 economists hold that politicians will

The political tendency to favor spending priorities with immediate benefits but deferred costs results in:

The U.S. federal government's largest unfunded liability is:

Which of the following impacts would economists expect to result from chronic budget deficits?

.The estimated value of the U.S. government's unfunded liability to Social Security is

To curb the problem of voters wanting immediate benefits and deferred costs, many state governments in the United States have

The U.S. Federal Reserve, the Bank of Japan, the Bank of England, and the European Central Bank are all in charge of what for the countries they represent?

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:

According to some economists, the private sector is more efficient than the public sector mainly because:

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

Regulatory capture is said to have occurred when which of the following is true?

Which of the following would be the best example of regulatory capture?

Regulatory capture often occurs because of which of the following?

Which of the following is considered a potential solution to some regulatory capture?

Deregulation:

In 2004, Congress passed a corporate tax relief bill with 276 provisions for tax breaks to groups such as restaurant owners, Hollywood producers, and NASCAR track owners. This is an example of the:

In 2011, Congress funded a sanctuary for white squirrels, a giant roadside coffee pot, and an antique bicycle museum. This is an example of

In their effort to provide disaster relief after Hurricane Katrina, the Federal Emergency Management Agency (FEMA) made payouts on as many as 900,000 claims with invalid Social Security numbers or false names and addresses. This example illustrates

Government loan guarantees tend to have the effect of:

Under what circumstances would government loan guarantees be socially beneficial?

From an economist's perspective, when is government too big?

Subsidies for mohair production illustrate:

The collective action problem refers to:

Government passes a law requiring all domestic clothing factories to pay workers at least $20 per hour. As a result, domestic clothing companies move their operations overseas, leaving domestic workers unemployed. This situation illustrates the problem of

Public choice theory focuses on the economics of:

Suppose that Steve and Susie each perceives $200 of marginal benefit from a proposed new park, whereas Elizabeth perceives $800. If the proposed tax levied on each for the park would be $300, a majority vote will:

Because majority voting fails to incorporate the strength of the preferences of individual voters, it

According to the paradox of voting:

Some people argue that the three main television networks all have similar programming. If true, this observation might best be explained by the: