PPOG 502 Quiz 3

PPOG 502 Quiz 3 Liberty Answers

  1. Mises, in the assigned reading on inflation, notes that
  2. Followers of English economist John Maynard Keynes argued that:
  3. Mises said, “when the government interferes with the market, it is more and more driven towards
  4. Which of the following goods or services fits the definition of a public good, as defined by Gwartney et al.?
  5. Gwartney et al. say that there is little incentive for voters to be well-informed about candidates or political issues. Economists refer to this problem as
  6. Economists refer to lobbying for wealth transfers and other political favor-seeking activities as
  7. A budget deficit occurs when
  8. When the Reagan administration abolished the last of the price controls on oil,
  9. Herbert Hoover reacted with economic intervention after the stock market crash of 1929. After the stock market decline in 1987, Reagan
  10. Overall, voting will
  11. As an example of the failure to “think past stage one,” Thomas Sowell pointed out that after the passage of the Americans with Disabilities Act in 1992,
  12. Since 1960, the U.S. federal government has
  13. Thomas Sowell argues in the assigned reading that there is a tendency for politicians to
  14. According to Gwartney et al., politicians who are motivated by their inner sense of what is right and who reject the appeals of special interest groups are
  15. Gwartney et al. suggests, toward the end of the assigned reading, that if the price level increases by more than four percent annually for two consecutive years,
  16. Wage and price controls imposed by President Nixon in 1971 caused
  17. Politicians sometimes trade votes to get the necessary support to pass the legislation they want. This is called
  18. According to Gwartney et al., special interest groups will use the democratic political process to
  19. When Gwartney et al. says that citizens can “vote with their feet,” they mean that
  20. The national debt is
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