Question 1

An economic outcome that may produce gain for some individuals, but no loss for other individuals, is termed&#10;A) Pareto-optimal.&#10;B) governmental.&#10;C) zero-sum.&#10;D) This outcome is impossible.

Accepted Answer

A Pareto-optimal outcome is one where some individuals may gain without any loss to others. This outcome is socially efficient and desirable as it satisfies the criteria of economic welfare improvement without hurting any other individual's welfare. Therefore, choice A is the correct answer. Choice B is incorrect because governmental outcomes may result in both gain and loss for different individuals. Choice C is incorrect because a zero-sum outcome implies that some individuals' gains must come at the expense of others' losses. Choice D is incorrect because such outcomes may occur in certain economic circumstances.

Question 2

If the price of a good is set at a level higher than the cost of the good produced, then&#10;A) the seller might realize a gross profit.&#10;B) the seller might realize a net profit.&#10;C) the demand for the good is likely to be high.&#10;D) All of the above

Accepted Answer

If the price of a good is set at a level higher than the cost of the good produced, the seller might realize a gross profit (A) and/or a net profit (B). If the demand for the good is high (C), it would further increase the possibility of the seller realizing profits. Therefore, all of the above choices are correct.

Question 3

A good that is neither rivalrous nor excludable is&#10;A) an undesireable good.&#10;B) a pure public good.&#10;C) a marketable good.&#10;D) commonly known as a &#34;widget.&#34;

Accepted Answer

A

Question 4

Policy analysis&#10;A) is primarily concerned with analyzing the impact of existing policy.&#10;B) is primarily concerned with comparing policy alternatives.&#10;C) is the unsophisticated government analysis conducted by the media.&#10;D) doesn't occur in incremental policy making.

Accepted Answer

Policy analysis is primarily concerned with comparing and evaluating policy alternatives, and not just analyzing the impact of existing policy. It involves identifying and assessing possible policy solutions, examining their potential impacts and costs, and determining the feasibility of implementation. Policy analysis plays a critical role in the policy-making process, helping policymakers to make informed decisions and to develop effective and efficient policies that address societal problems. This process occurs both in incremental policy making and more dramatic changes in policy.

Question 5

One common theme in public policy analysis is&#10;A) that it is conducted by public officials.&#10;B) that it is often liberally biased due to media influence.&#10;C) that it tends to imply that particular public policies should exist.&#10;D) All of the above

Accepted Answer

The common theme in public policy analysis is that it tends to imply that particular public policies should exist. While public officials may conduct policy analysis and media influence may have some effect on policy outcomes, these are not necessarily universal themes.

Question 6

According to the textbook, policy goals are most likely to be outlined and defined during the&#10;A) policy choice stage.&#10;B) issue framing stage.&#10;C) relevance stage.&#10;D) termination stage.

Accepted Answer

Policy goals are most likely to be outlined and defined during the issue framing stage, as this is when the problem is defined and the goals of the policy are established to address the issue.

Question 7

One important distinction between quantitative analysis and qualitative analysis is&#10;A) qualitative analysis is much more expensive.&#10;B) qualitative analysis is much more time consuming.&#10;C) qualitative analysis uses numbers to describe phenomena.&#10;D) quantitative analysis has predictive power.

Accepted Answer

The answer of One important distinction between quantitative analysis and...

Question 8

The costs associated with choosing a particular policy over an alternative policy are commonly known as&#10;A) aggregate costs.&#10;B) negative benefits.&#10;C) pure externalties.&#10;D) opportunity costs.

Accepted Answer

The costs associated with choosing a particular policy over an alternative policy are commonly known as opportunity costs. This is because the choice involves giving up something in order to gain something else. Choosing between policies involves weighing the benefits and costs of each, as well as considering the opportunity cost of not choosing the alternative option.

Question 9

If policy option A has a B/C ratio of 0.94 and policy option B has a B/C ratio of 2.03, then
I) numerically, policy A is the better policy alternative .
II) numerically, policy B is the better policy alternative.
III) it is possible that neither is a better policy alternative.

A) I only
B) II only
C) II and III
D) III only

Accepted Answer

The answer of If policy option A has a B/C...

Question 10

White flight refers to&#10;A) the in-migration of white people into multicultural communities.&#10;B) the out-migration of white people from multicultural communities.&#10;C) court-ordered segregation.&#10;D) court-ordered desegregation.

Accepted Answer

White flight refers to the phenomenon of white people leaving (out-migrating from) multicultural communities, typically to live in more affluent and less diverse areas.

Deck 4: Policy Analysis