Public choice theorists point out that the political process:

	a.	is a much fairer way to allocate society's scarce resources than the impersonal marketplace, which is dominated by high-income consumers.
	b.	involves logrolling, which is always inefficient.
	c.	differs from the marketplace in that voters and congressional representatives often face limited and bundled choices.
	d.	is less prone to failure than the marketplace.

(Consider This) The collective action problem refers to:

	a.	logrolling behavior that results in inefficient policies.
	b.	the tendency for legislatures to enact policies that are economically harmful.
	c.	difficulty in organizing and motivating large groups to achieve desired outcomes.
	d.	the lack of political power of small groups of people.

Which of the following would be the best example of regulatory capture?

	a.	Executives from the Ford, General Motors, and Chrysler companies write the rules regulating automobile safety and fuel requirements.
	b.	Starbucks buys up all the available supplies of coffee beans.
	c.	Nike executives influence the rules for track and field events.
	d.	Federal lawmakers write and pass legislation that protects domestic companies from foreign competition.

  

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