Question 1
Which factor is not a characteristic discouraging rational consumer information gathering?
Question 2
What is an example of a project that might be undertaken despite having low benefits and high costs?
Question 3
What characteristic defines special interest legislation?
Question 4
Why might policies with negative effects continue to exist?
Question 5
Why do lawmakers pass special interest legislation?
Question 6
What is an unintended consequence of policy-making?
Question 7
How does the concept of incentives influence decision-making in government?
Question 8
What must be taken into account when designing government regulations?
Question 9
What is rent seeking in the context of public voice in economics?
Question 10
What does Hayek's Fatal Conceit suggest about policymakers?
Question 11
What is Hayek's Knowledge Problem?
Question 12
Why might economists emphasize limitations in policy-making?
Question 13
What is an example of 'Concentrated Benefits, Diffuse Costs'?
Question 14
What does the existence of economic rents suggest about certain markets?
Question 15
What does the 'rational ignorance' concept indicate about consumers?