ECON
MACROWSNotes7.pdf

MACROWSNotes7.pdf - 25 Award 1.00 point Economists call the...

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25. Award: 1.00 point 26. Award: 1.00 point Economists call the pursuit of a transfer of wealth through government at someone else's expense the paradox of voting. adverse selection. rent-seeking behavior. the benefits-received principle. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens. Public choice economists hold that politicians will favor programs entailing immediate and clear-cut costs and vaguely defined or deferred benefits. follow policies leading to an optimal allocation of resources between public and private sectors. favor programs entailing immediate and clear-cut benefits and vaguely defined or deferred costs. objectively weigh the costs and benefits of various government programs and vote accordingly. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens.
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27. Award: 1.00 point 28. Award: 1.00 point Public choice economists contend public bureaucracies are inefficient primarily because
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