Microeconomics

The political process can impede redistribution goals because _____.

The political process can impede redistribution goals because _____. a. there are more stingy voters than generous voters b. there are more middle class voters than poor voters c. there are more dumb voters than smart voters d. there are more middle class politicians than poor politicians   ANSWER b  

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Date: September 9th, 2020

Equity and efficiency _____. Thus, _____. a. are always consistent wi

Equity and efficiency _____. Thus, _____. a. are always consistent with each other; trade-offs between the two are necessary b. are never consistent with each other; trade-offs between the two are unnecessary c. might be consistent in certain situations; trade-offs between the two might be necessary d. might be consistent in certain situations, trade-offs between […]

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Date: September 9th, 2020

Normative analysis is very important to public finance because _____.

Normative analysis is very important to public finance because _____. a. public policy enacted by government is the result of voting by individuals b. positive analysis is full of value judgments c. we should be concerned with how the world works d. voluntary exchanges are economically efficient   ANSWER a  

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Date: September 9th, 2020

The equilibrium level of regulation is _____. a. determined where mar

The equilibrium level of regulation is _____. a. determined where marginal political gains to the special interests are equal to the marginal political costs of the foregone regulation b. determined where the marginal benefits from the regulation are equal to the marginal costs of the regulation c. determined where the marginal political benefits to the […]

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Date: September 9th, 2020

Jane is a dietician in a city that twenty years ago voted to restrict

Jane is a dietician in a city that twenty years ago voted to restrict the number of dieticians in the city to five and to regulate their prices. Although the city has tripled in size during that time (and thus demand has increased), no new dietician licenses have been issued. Over the years Jane and […]

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Date: September 9th, 2020