“Political logrolling solves the problem of inefficient outcomes in the provision of public goods.” Evaluate
Please provide the best answer for the statement.
This statement is not completely true. While in some cases vote trading can allow citizens to express their preferences for public goods and achieve a more efficient outcome, this is not always the case. A combination of public goods may be implemented even through their cost is greater than their benefit. Those engaging in vote trading may believe that the benefit they gain from obtaining their public good will be more than sufficient, even if it negatively impacts others. Thus, logrolling does not guarantee an efficient outcome.
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________ are profits that accrue to whomever has the right to import the quota restricted good
A) Quota licenses B) Quota rents C) Quota prices D) None of the above.
Which of the following is an example of a monopolistically competitive industry?
a. electric lamp bulbs b. aircraft manufacturing c. corn d. sweaters