The Economics of Political Action.

The economics of political action refers to the study of how individuals and groups make decisions about political participation and how those decisions affect public policy. It is an interdisciplinary field that combines elements of economics, political science, and sociology.

One of the key concepts in the economics of political action is the idea of rational choice. This theory suggests that individuals will make decisions about political participation based on a cost-benefit analysis, weighing the benefits of participation against the costs. Factors such as time, money, and the likelihood of success are all considered in this analysis.

Another important concept is the idea of collective action. This refers to the difficulty of coordinating and motivating individuals to take part in political activities. Collective action problems can arise when the benefits of political participation are shared among a large group, but the costs are borne by individuals. This can lead to a situation where individuals choose not to participate, even though the group as a whole would benefit from their participation.

The economics of political action also considers the impact of political institutions on individual behavior. For example, the design of electoral systems and the structure of political parties can affect voter turnout and political participation.

The field of the economics of political action also looks at how economic incentives affect the political process. For example, how taxes, subsidies, and regulations affect the behavior of firms and individuals, and how these policies in turn shape the political process.

In conclusion, the economics of political action is an interdisciplinary field that studies how individuals and groups make decisions about political participation and how those decisions affect public policy. It is based on the concepts of rational choice, collective action, and the impact of political institutions and economic incentives on the political process. It helps to understand the behavior of individuals and groups in the political sphere and how it can shape public policy.

1.The rational ignorance effect implies that a rational individual will:
2.Which of the following is not true of public sector action?
3.Which of the following is often used as a device to obtain funding for a group of projects intensely desired by regional or interest groups that would be unlikely to pass if voted on separately?
4.A special-interest issue is:
5.Economic analysis suggests that
6.Which of the following is a difference between the private sector and the public sector?
7.When which businesses succeed are driven by political connections rather than market forces, this is known as a system of:
8.Which of the following is an example of a transfer payment?
9.Which of the following occurs as the size of government expands as a share of the economy due to greater use of transfers and subsidies?
10.Which of the following is a result of the rational ignorance effect?
11.pecial interest issues in which the benefits are concentrated and the costs are widespread:
12.Crony capitalism is the situation where:
13.Which of the following is true of the public sector?
14.Which of the following is true of the shortsightedness effect?
15.Identify a similarity between the government sector and the market sector.
16.According to public-choice analysis, which of the following is most likely to increase the incentive for well-organized groups to expend resources seeking government favors?
17.Politicians have a strong incentive to support special-interest issues because:
18.Which of the following refers to payments to individuals or institutions that are not linked to the current supply of a good or service by the recipient?
19.The cost of a government service can be linked to the benefits received by:
20.Under crony capitalism, the government:
21.Which of the following is true regarding production within the public sector?
22.Which of the following is true of public-choice economists?
23.Which of the following is meant by collective decision-making?
24.Which of the following is true of political candidates?
25.Which of the following terms is used by economists to describe actions taken by individuals and groups seeking to use the political process to take the wealth of others?
26.The «bundle purchase» problem in public sector action refers to:
27.Resources are often inefficiently used in the government sector because:
28.Which of the following is true regarding government spending as a share of the U.S. economy?
29.Public-choice analysis:
30.Logrolling involves the practice:
31.Which of the following is a similarity between market entrepreneurs and crony capitalists?
32.Promising to eliminate all current student higher-education debt is a good way for a candidate for political office to get the support of which subset of voters?
33.A representative government will tend to undertake projects that are productive when:
34.Political action:
35.For the smooth operation of markets, a government should:
36.Which of the following holds true when voters pay for a government project in proportion to the benefits received from it?
37.A political project is truly productive only when:
38.As a result of the shortsightedness effect, elected political officials:
39.Which of the following is true of rent-seeking behavior?
40.Which of the following is true of the income-transfer activities of the U.S. government?
41.The political process will be more likely to accept productive projects and reject unproductive ones when:
42.Public-choice analysis:
43.Which of the following is true of government bureaucrats?
44.Rent-seeking leads to a(n):
45.If the government uses resources to achieve one goal, those resources are unavailable to achieve others. This implies that:
46.Which of the following is a larger share of federal government spending?
47.Which of the following is true of government spending on income transfers?
48.Which of the following is true of the government sector?
49.Which of the following is the larger category of state and local government spending?
50.Crony capitalists succeed by:

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