Exam 17: Web: Political Economy

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Realmium is ruled by a single person who pursues policies of her own interest. Realmium's political system is an example of a(n) ________.

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Three newly formed companies operate out of a common building. They have decided to install surveillance cameras in the building. The following table shows their respective preferences regarding the number of surveillance cameras to be installed. Three newly formed companies operate out of a common building. They have decided to install surveillance cameras in the building. The following table shows their respective preferences regarding the number of surveillance cameras to be installed.    i) Which are the political bliss points of each voter? ii) Who is the median voter in this case? iii) Whose preferences are single-peaked? i) Which are the political bliss points of each voter? ii) Who is the median voter in this case? iii) Whose preferences are single-peaked?

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The table below shows the preferences of three neighbors regarding the number of security guards they need to guard their locality. The table below shows the preferences of three neighbors regarding the number of security guards they need to guard their locality.    -Refer to the table above. Which of the following is true? -Refer to the table above. Which of the following is true?

(Multiple Choice)
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________ is the political system in which public officials are elected by the people.

(Multiple Choice)
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Three students share an apartment. They are planning to buy a common television set and have decided to choose one among three different models through voting. Model A is the most expensive, Model B is neither too expensive nor too cheap, and Model C is the least expensive. The table below shows their respective preferences for each model. Three students share an apartment. They are planning to buy a common television set and have decided to choose one among three different models through voting. Model A is the most expensive, Model B is neither too expensive nor too cheap, and Model C is the least expensive. The table below shows their respective preferences for each model.     -Refer to the table above. Kim will reach his political bliss point if________. -Refer to the table above. Kim will reach his political bliss point if________.

(Multiple Choice)
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Three students share an apartment. They are planning to buy a common television set and have decided to choose one among three different models through voting. Model A is the most expensive, Model B is neither too expensive nor too cheap, and Model C is the least expensive. The table below shows their respective preferences for each model. Three students share an apartment. They are planning to buy a common television set and have decided to choose one among three different models through voting. Model A is the most expensive, Model B is neither too expensive nor too cheap, and Model C is the least expensive. The table below shows their respective preferences for each model.     -Refer to the table above. Which of the following is true in this case? -Refer to the table above. Which of the following is true in this case?

(Multiple Choice)
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How is bureaucratic corruption different from political corruption? Why is bureaucratic corruption often considered to be a more serious problem?

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Mention three reasons why political competition takes an imperfect form in most democracies.

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What causes government failures?

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In a representative democracy, ________.

(Multiple Choice)
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Which of the following is true of market failures?

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There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed. There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed.    -Refer to the table above. Household C will reach its political bliss point if ________. -Refer to the table above. Household C will reach its political bliss point if ________.

(Multiple Choice)
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There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed. There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed.    -Refer to the table above. Household A will reach its political bliss point if________. -Refer to the table above. Household A will reach its political bliss point if________.

(Multiple Choice)
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The table below shows the preferences of three neighbors regarding the number of security guards they need to guard their locality. The table below shows the preferences of three neighbors regarding the number of security guards they need to guard their locality.    -Refer to the table above. According to the median voter theorem, how many guards should be employed? -Refer to the table above. According to the median voter theorem, how many guards should be employed?

(Multiple Choice)
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If John prefers tea to coffee and coffee to milk shake, we would know for sure that John prefers tea to milk shakes. This property, which preserves consistency in the choices that an individual would make, is referred to as ________.

(Multiple Choice)
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Mary, June, and Kay are three siblings who have been asked by their parents to decide where they would like to go for their vacation. They have been given three options- a beach that is 100 miles away, a waterfall that is 300 miles away and an old city of historic importance which is 120 miles away. The table below lists the preferences of the three siblings. Mary, June, and Kay are three siblings who have been asked by their parents to decide where they would like to go for their vacation. They have been given three options- a beach that is 100 miles away, a waterfall that is 300 miles away and an old city of historic importance which is 120 miles away. The table below lists the preferences of the three siblings.    -Refer to the table above. June will reach her political bliss point if ________. -Refer to the table above. June will reach her political bliss point if ________.

(Multiple Choice)
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What can be a possible advantage of paying politicians for their performance?

(Essay)
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Who among the following act(s) on behalf of the citizens in a representative democracy?

(Multiple Choice)
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There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed. There are three houses on a particular street. The table below shows the preferences of the three households regarding the number of street lights they want to be installed.    -Refer to the table above. This is an example of the________. -Refer to the table above. This is an example of the________.

(Multiple Choice)
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Three friends are planning to go out for dinner. However, unable to decide a place unanimously, they decided to vote for three of the restaurants they visit regularly. The first restaurant serves Chinese cuisine and is most expensive, the second one is an Italian food joint that is moderately expensive and the third one is a fast food joint that is the least expensive option. The table below shows their respective preferences for each place. Three friends are planning to go out for dinner. However, unable to decide a place unanimously, they decided to vote for three of the restaurants they visit regularly. The first restaurant serves Chinese cuisine and is most expensive, the second one is an Italian food joint that is moderately expensive and the third one is a fast food joint that is the least expensive option. The table below shows their respective preferences for each place.    What is likely to be the outcome of the vote if the median voter theorem holds? What is likely to be the outcome of the vote if the median voter theorem holds?

(Essay)
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