(Consider This) Which of the following is an example of voter failure?
A. Voters support adding stop lights that would increase congestion and travel costs without
increasing safety or convenience.
B. Government officials ignore voter calls for regulations that would reduce negative
externalities and enhance efficiency.
C. Voters wanting greater highway safety are unable to express their preferences on how to
achieve it because the voting system doesn't allow it.
D. Voters wanting more government services are divided on what services they most prefer,
leaving government officials to determine what is best.
Answer: A
You might also like to view...
When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $400 billion
When the multiplier is ________, an autonomous decrease in investment of $200 billion decreases equilibrium real GDP by $800 billion. A) 2.0; 4.0 B) 0.4; 0.2 C) 0.2; 0.4 D) 4.0; 8.0 E) $400 billion; $800 billion
The most common type of interest-rate swap is
A) the plain vanilla swap. B) the basic swap. C) the ordinary swap. D) the notional swap.
A major employer in a small town announces upcoming major layoffs of employees. What should we expect to happen to the consumption functions of the affected employees?
A. The consumption functions will shift upward. B. Most employees will move upward along their consumption functions C. The consumption functions will shift downward D. Most employees will move downward along their consumption functions
Exhibit 15-5 International currency markets
Exhibit 15-5 displays the international currency market for yen in terms of dollars and dollars in terms of yen. The supply curve in graph 15-5(A) is determined by:
A. U.S. citizens attempting to purchase Japanese-made goods. B. Japanese attempting to purchase U.S.-made goods. C. U.S. businesses attempting to sell to the Japanese. D. Japanese businesses attempting to sell to the U.S.