Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 19, Problem 10QP
To determine
Difference in viewpoints regarding benefits to special interest groups and general public.
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If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measured in terms of private housing? (Assume a defense budget of $600 billion.)
what is the opportunity cost of a defense buildup that raises military spending from 4.0 to 4.3 percent of an $18 trillion economy?
We know that lobbyists can influence campaigns, elections, and public policy. A good definition of lobbying is:
Group of answer choices
A person or group of people who are paid by the federal government to do analysis of what people in America care about so that correct public policies can be created.
The act of lawfully attempting to influence the actions, policies, or decisions of government officials
A person or group of people who talk to legislators and help them implement public policy.
A person or group of people who are paid by legislators to help them implement public policy.
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- Given that rational ignorance discourages some people from becoming informed about elections, is it necessarily a good idea to encourage greater voter turnout? Why or why not?arrow_forwardSuppose there are three people in society who vote on whether the government should undertake specific projects. Let the net benefits of a particular project be $150, $140, and $50 for persons A, B, and C, respectively. a. If the project costs $300 and these costs are to be shared equally, would a majority vote to undertake the project? What would be the net benefits to each person under such a scheme? Would total net benefits be positive? b. Suppose the project cost $375 and again costs were to be shared equally. Now would a majority vote for the project and total net benefits be positive? c. Suppose (presumably contrary to fact) votes can be bought and sold in a free market. Describe what kinds of results you might expect in part a and part b.arrow_forwardAs the Great Depression began in 1929, and millions of Americans found themselves in a terrible economic position, President Herbert Hoover was reluctant to involve the government in directly helping people. This decision helped lead to his loss in the presidential election of 1932. Put yourself in Hoover’s shoes—what reasons would he have for being opposed to large-scale government involvement in the economic lives of Americans? What reasons could be given for the government getting involved?arrow_forward
- Explain how beliefs and opinions can shape government economic policy decision making.arrow_forwardHow might special interest groups and lobbyists influence campaigns and elections? Group of answer choices political party and influence legislation. They go door to door educating voters on campaign and election issues. While they do not participate in elections, they exercise a lot of influence through their relationships with elected officials. When politicians are elected to office, members of special interest and lobbyists take jobs working for that politician and in this way influence their work, campaigns, and elections.arrow_forwardDefine Public Policy according to Laswellarrow_forward
- Most Americans would voluntarily support defense without required taxation. True or falsearrow_forwardWe have seen that monetizing the benefits of environmental improvements is difficult. Consequently, some researchers have argued that policymakers themselves should determine the goals of environmental policies in terms of how much pollution abatement is necessary, and then market-based environmental policy tools should be used to achieve such goals in a cost-effective manner. Examples of such market-based tools include all of the following except ____. A. Pollution Taxes B. Abatment Subsidies C. Command and Control Policies Please Answer Correctly Will Rate IF Correct!arrow_forwardConsider two ways of protecting elephants from poachers in African countries. In one approach, the government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. In a second approach, the government sets up national parks and designates 10 villages around the edges of the park as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. Consider the different incentives of local villagers—who often are very poor—in each of these plans. Which plan seems more likely to help the elephant population?arrow_forward
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