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

-Refer to Exhibit 32-3.The exhibit shows the breakdown of benefits and costs for a five-person community considering whether to purchase a $5,000 statue of Adam Smith to put in the center of the public square.How will each of the five persons (from Milton to Kenneth,in order)vote?

What is the median voter model? Describe four different ways in which this theory is predicted to impact the behavior of political candidates.

According to the median voter model,a candidate (in a two-person race)is more likely to label himself or herself a "middle-of-the-roader" than a conservative or liberal because

Public choice theorists insist that when a person goes from public to private employment,his or her motivations __________ while the institutional arrangements shaping his or her actions __________.

In a simple majority vote on a public project,

Public choice deals with

There is evidence that __________ were the main lobbyists behind passage of the Factory Acts which put restrictions on women and children working in early 19th century England.

Special interest groups