Asked by Krystina Colon on Jul 21, 2024
Verified
Public choice theory would suggest that the lobbying of Congress by farm organizations for legislation that would increase the appropriations from the U.S. government for agricultural programs is an example of
A) revealed preference.
B) rent-seeking behavior.
C) the paradox of voting.
D) the median voter model.
Public Choice Theory
A framework that applies economic principles to political science, analyzing how public decisions and policies are made.
Rent-Seeking Behavior
Activities aimed at increasing one's share of existing wealth without creating new wealth, often through manipulation or exploitation of the economic environment.
Agricultural Programs
Initiatives and policies designed to support, regulate, and improve the agricultural sector, including subsidies, research, and development.
- Comprehend the political procedures and their impact on the formulation of agricultural policies.
Verified Answer
HZ
Huihui ZhengJul 25, 2024
Final Answer :
B
Explanation :
Public choice theory describes rent-seeking behavior as the activity of individuals or groups, such as farm organizations, lobbying the government for economic benefits they cannot secure through the market. In this case, lobbying Congress for increased appropriations for agricultural programs is a classic example of rent-seeking, as these organizations are seeking to gain financial advantages through political influence rather than through competitive market processes.
Learning Objectives
- Comprehend the political procedures and their impact on the formulation of agricultural policies.