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MACROWSNotes6.pdf - 21 Award 1.00 point The idea of...

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21. Award: 1.00 point 22. Award: 1.00 point The idea of government failure includes all of the following except special-interest effect. bureaucratic inefficiency. pressure by special-interest groups. extensive positive externalities from public and quasi-public goods. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens. Suppose American winemakers convince the federal government to issue a directive to serve only domestically produced wine at government functions. This would be an example of moral hazard. the principal-agent problem. logrolling. rent-seeking behavior. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens.
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23. Award: 1.00 point 24. Award: 1.00 point Public choice theorists contend that
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