MACROWSNotes8.pdf - 29 Award 1.00 point Professional sports...

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29. Award: 1.00 point 30. Award: 1.00 point Professional sports teams will sometimes seek public subsidies for stadium financing projects that produce large benefits for a relatively small number of fans and impose small costs on a relatively large number of people. Sometimes these efforts to secure public funding are successful even though the decision is not efficient. This is an example of log-rolling. pork-barrel politics. the special-interest effect. market failure. References Multiple Choice Difficulty: 02 Medium Learning Objective: 05-02 Discuss government failure and explain why it happens. Suppose the U.S. House of Representatives is debating a bill to fund construction and maintenance for the nation’s highway system. Representative Sandy Shady adds a provision to the bill that would fund a new public art museum in her district. The authorization of expenditure for the museum would be an example of an earmark.
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