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Chapter 16 - Special Interest legislation – legislation...

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Chapter 16 – 10/16/07 Quasi-Public Good – a good that is non-rival in consumption but exclusive, such as cable tv Open acess good – a good that is rival in consumption but nonexclusive such as ocean fish Free Rider Problem – because a public god is nonexclusive, people may try to reap the benefits of the god without paying for it Median voter model – under certain conditions, the preferences of the median, or middle, voter will dominate the other preferences Rational Ignorance – a stance by voters when they find that the cost of understanding and voting on a particular issue exceeds the benefit expected from doing so Traditional Public Goods legislation – legislation that involves wider=spread costs and widespread benefits, nearly everyone pay and nearly everyone benefits
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Unformatted text preview: Special Interest legislation – legislation with concentrated benefits but widespread costs Pork Barrel Spending – special interest legislation with narrow geographical benefits but funded by all taxpayers Populist Legislation – Legislation with widespread benefits but concentrated costs Competing Interest Legislation – Legislation that confers concentrated benefits on one group by imposing concentrated costs on another group Underground economy – An expression used to describe market activity that goes unreported either because it is illegal or because those involved want to evade taxes Bureaus – Government agencies charged with implementing legislation and financed by appropriations from legislative bodies...
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