Senator Blacklung represents a state that grows a significant amount of tobacco. Not only do many of his constituents work for businesses in this industry, but the tobacco firms also make generous contributions to his reelection campaign. According to public choice theory, which of the following bills would Senator Blacklung be most likely to support?

a. a bill proposing an increase in the tax on cigarettes to fund urban renewal programs across the nation
b. a bill that would provide substantial subsidies for tobacco growers
c. a bill proposing increased funding for a national antismoking awareness campaign financed by an increase in the tax on cigarettes
d. a bill that would prohibit senators from accepting campaign contributions from firms who are involved in the production or sale of tobacco products

B

Economics

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A person who is ____________ is willing to accept any fair gamble.

Fill in the blank(s) with the appropriate word(s).

Economics

Suppose a demand schedule is P = 100 - Q and a supply schedule is P = 20 + 2Q. What is the marginal net benefit curve?

a. MNB = 80 - Q b. MNB = 80 - 3Q c. MNB = 80 + Q d. MNB = 120 - Q e. MNB = 120 - 3Q

Economics