Econ434MC14 - Topic 14 Public Choice 1 An example of...

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Topic 14 : Public Choice 1. An example of “intellectual imperialism” wherein economic reasoning is applied to areas previously considered outside the domain of the economist is: (a) public choice analysis. (b) the voting theory. (c) analysis of market failure. (d) economic reasoning. 2. NOT among the groups strongly opposed to payments of interest would be: (a) orthodox Marxists. (b) medieval scholastics. (c) followers of Islam. (d) public choice theorists. 3. Renowned as one of the more prolific pioneers of modern public-choice theory is the Nobel-prize winning economist: (a) James M. Buchanan. (b) James Earl Carter. (c) James Madison. (d) Martin van Buren. (e) James Monroe. 4. The public choice perspective is central to theories developed by: (a) John Locke. (b) Gordon Tullock. (c) Friedrich Hayek. (d) John Kenneth Galbraith. 5. Public choice is the study of: (a) taxing and government outlays. (b) mob violence as an allocative device. (c) political behavior from an economic perspective. (d) marketing based on public opinion polls. 6. Public choice analysis focuses on such questions as why: (a) entrepreneurs try to satisfy consumers’ preferences. (b) capitalism is less equitable than socialism. (c) special interest groups devote resources to lobbying. (d) people buy more public goods than private goods. 7. Public choice analysis assumes that individual behavior in the political arena is essentially: (a) democratic. (b) random. (c) humanitarian. (d) self-interested. 8. The assumption that people are self-interested is probably LEAST applicable for: (a) heads of business firms. (b) heads of government agencies. (c) heads of households. (d) heads of nonprofit corporations. (e) people covered by headstones. 9. Traditional economic theory is often narrowly interpreted to include only the private decisions of individuals in the market. Conventional political science typically fails to analyze individuals’ choice behavior, preferring instead to look at groups’ choice behavior. The intersection of these two disciplines, whereby the institutions are those studied in political science, and the method is that studied by economic theory, is known as: (a) politico-economic reaction curves. (b) public choice. (c) the central tendency theorem. (d) rational voting equilibrium. (e) Pareto efficiency. 10. In the broadest terms, public choice analysis examines: (a) what the public thinks about certain economic theories. (b) any large task-oriented organization. (c) attempts by interest groups to manipulate public policy”. (d) political behavior from an economic perspective. 11. Public choice analysis begins with an assumption that individual behavior in the political Topic 14: Public Choice 1
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arena is essentially: (a) democratic. (b) anarchic. (c) humanitarian. (d) self-interested. (e) republican. 12. Using economic assumptions to study political behavior is central to the area of analysis
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Econ434MC14 - Topic 14 Public Choice 1 An example of...

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