To get the U.S. Senate to pass a farm bill, a U.S. Senator from a farm state asks for the support of a U.S. Senator from an urban state. The urban state Senator agrees to support the bill, if in return the farm state Senator supports a bill for a mass transit project. This situation is an example of:
A. The paradox of voting
B. Rent-seeking behavior
C. Political logrolling
D. The median voter model
C. Political logrolling
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The table above gives the supply and demand schedules for scooters. Because of increased injuries sustained by children riding scooters, Citizens Against Scooter Accidents successfully lobbies the government to impose a price floor of $80
00 on scooters. a) What is the quantity demanded and supplied after the price floor has been imposed? b) Is there any shortage or surplus at this price floor? If so, how much? c) If the price floor is raised to $110.00, what is the quantity demanded and supplied? d) At a price floor of $110.00, is there any shortage or surplus? If so, how much?
Which of the following is not a characteristic of most less-developed countries?
a. low per capita income b. political instability c. a high percentage of the population under the age of 15 d. inadequate infrastructure e. high productivity
If the U.S. price level increased relative to price levels in foreign countries, what would be the impact on domestic aggregate supply and aggregate demand curves?
a. the aggregate supply curve would shift outward and the aggregate demand curve would remain unchanged b. the aggregate supply curve would shift inward and the aggregate demand curve would remain unchanged c. the aggregate demand curve would shift outward and the aggregate supply curve would remain unchanged d. the aggregate demand curve would shift inward and the aggregate supply curve would remain unchanged e. the domestic aggregate demand and supply curves would remain unchanged
The idea of a carbon tax makes more sense at the ________ level because it is ________.
A. individual; easier to monitor B. corporate; easier to monitor C. individual; going to have a larger impact D. corporate; going to have a larger impact