Exam 19: Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions

Three persons,A,B,and C,will use a simple majority vote to determine whether some good will be purchased.Each person's "tax share" of the purchase price of the good will be $25.Person A receives $30 worth of benefits from the good,person B receives $26 worth of benefits from the good,and person C receives $2 worth of benefits from the good.It follows that __________ person(s)will vote for the good,__________ person(s)will vote against it,and that the outcome is __________.

Simple majority rule can generate inefficient outcomes because

-Refer to Exhibit 32-4.If producers of this good engage in rent seeking which results in the government imposing a price floor of P₂,then consumers' surplus ends up being area

Which of the following is a prediction of the median voter model for a two person political race?

Suppose that a federal election is coming soon and the government has been running persistent large budget deficits.Constitutional economists would most likely urge ___________________ in order to eliminate future budget deficits.

Rational ignorance is

The model predicting victory in a two-person race for the candidate closer to occupying the center of the voter distribution is built on the assumption that

-Refer to Exhibit 32-4.Suppose that producers of this good engage in rent seeking which results in the government imposing a price floor of P₂.The gain in producers' surplus that occurs due to the price floor is

During an election,a candidate who is not doing as well in the polls as his or her opponent will

Candidate X and Candidate Y have a debate.X's advisers believe that one result of the debate is that Y will appear to the voters as further to the left than before.This is good news for X

People will be more likely to vote if they believe that their vote will determine the outcome of the election.

When it comes to voting in a presidential election,we would expect,ceteris paribus,

Public choice is concerned with

Rational ignorance exists primarily because

Which of the following predictions is consistent with public choice theory?

Grown children fawning over an elderly parent in order to try to secure a larger inheritance is an example of

One U.S.Senator promises to vote for a measure that another U.S.Senator wants only if the favor is returned in kind.This is an example of

A politician running for political office does not speak in general terms,does not try to move to the middle of the political spectrum,and does not take polls,therefore it follows that

One implication of the median voter model is that a candidate is likely to label himself __________ and his or her opponent as __________.

It has often been remarked that Democratic candidates are more liberal in the Democratic primaries and Republican candidates are more conservative in the Republican primaries than either is in the general election.The explanation for this is most probably that