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trancy trancy
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5 years ago

Question 1.

A situation where a member of Congress votes to approve a bill in exchange for favorable votes from other members on other bills is called

• rent seeking.

• logrolling.

• regulatory capture.

• special interest legislation.

Question 2.

The Arrow impossibility theorem explains

• why there is no system of voting that will consistently represent the underlying preferences of voters.

• why government regulation of private markets will always result in a reduction in economic efficiency in these markets.

• why voters are always rationally ignorant.

• why it is not possible to provide the economically efficient amount of any public good.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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qwer34qwer34
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5 years ago
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trancy Author
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5 years ago
Brilliant ツ
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this is exactly what I needed
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This helped my grade so much Perfect
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