The process whereby votes are exchanged to gain

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Question 9The process whereby votes are exchanged to gain support for legislation isreferred to asspecial interest voting. logrolling. simple majority voting. rational ignorance. 4 / 4 ptsQuestion 10Refer to Exhibit 31-4. At the market equilibrium price of the good, producers’surplus is the areaC + E
A + B + C + D + E A + B + C D + E 4 / 4 ptsQuestion 11It has often been remarked that Democratic candidates are more liberal inthe Democratic primaries and Republican candidates are more conservativein the Republican primaries than either is in the general election. Theexplanation for this is most probably thatcandidates are not as likely to locate the position of the median voter in the(earlier) primaries as they are in the (later) general election.more people vote in the general election than in the primaries. they are facing politically different opponents in the two elections. the median voter preferences are more to the left (right) in the primaries thanin the general election.0 / 4 ptsQuestion 12IncorrectIncorrect
Refer to Exhibit 31-4. Suppose that producers of this good engage in rentseeking which results in the government imposing a price floor of P. Thegain in producers’ surplus that occurs due to the price floor is2C + E A + B + C + D + E A + B + C B B + C 4 / 4 ptsQuestion 13Special interest groups are usuallywell informed on all political issues. well informed on all economic issues. well informed on issues of interest to them.
not well informed on any issues but appear to be. 4 / 4 ptsQuestion 14The state of choosing not to acquire information because the costs ofacquiring the information are greater than the benefits is referred to asgovernment failure. rational ignorance. logrolling. market failure. 4 / 4 ptsQuestion 15Logrollingconsists ofspreading the costs of a piece of special interest legislation over many millionsof people.attempts directed at slowing down the growth of rational ignorance. none of these increasing taxes on some people and lowering taxes on other people. exchanging votes to gain support for legislation.
4 / 4 ptsQuestion 16The simple majority decision rule may generate results that areefficient, because projects are undertaken only if total benefits exceed totalcosts.efficient, because the projects undertaken are the ones desired by more than50 percent of the people.efficient, because the intensity of individuals' preferences is considered. inefficient when the total benefits of projects undertaken are less than the totalcosts.inefficient when the intensity of individuals' preferences are considered.

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