The managers of government bureaucracies have an incentive to _____ a. maximize the size of their budgets b. minimize the size of their staff c. maximize the profits from their bureaus d. minimize rent-seeking ANSWER a
Date: September 9th, 2020
To understand how decisions about military expenditures are made, it is probably most important to understand _____. a. geography b. economic warfare c. the political process d. strategic alliances ANSWER c
Date: September 9th, 2020
Which of the following is not a source of rents? a. Tariffs b. Logrolling c. Price supports d. Entry barriers ANSWER b
Date: September 9th, 2020
Adding members to a military alliance _____ a. will always strengthen the alliance b. will cause the alliance to dissolve c. might weaken the alliance d. will always weaken the alliance ANSWER c
Date: September 9th, 2020
The deadweight loss of taxation from an income tax is because of _____. a. the inclusion of savings in the tax base b. the Laffer curve c. the income effect d. the substitution effect ANSWER d
Date: September 9th, 2020
Which of the following is not an example of agenda control? a. The assignment of members of Congress to committees. b. Determination of the ballot language of a tax-and-expenditure limitation initiative. c. Special interests deciding which members of Congress deserve their attention. d. The majority caucus decides who can run for Speaker of the House […]
Date: September 9th, 2020
The backward-bending supply curve of labor applies to _____. a. individuals b. groups c. the economy as a whole d. theoretical models ANSWER c
Date: September 9th, 2020
Using potentially productive resources to try and obtain transfers from the government is called _____. a. vote trading b. logrolling c. agenda control d. rent seeking ANSWER d
Date: September 9th, 2020
The early 1980s “Star Wars” space-based defensive weapons system was an example of _____. a. economic warfare b. a military alliance c. negative externality d. undefined property rights ANSWER a
Date: September 9th, 2020
In the context of rent seeking, rents refer to _____. a. payments made to factors of production for private benefit that do not add anything to social output. b. payments made to politicians for private benefit that do not add anything to gross domestic product c. payments made to factors of production for private benefit […]
Date: September 9th, 2020
